Cisco revenues push to $10.4 billion in Q2

The company's earnings beat expectations

Cisco beat analyst estimates with its second-quarter earnings, posting revenue of US$10.4 billion and earnings per share, excluding expenses, charges and other items, of $0.37.

Analysts polled by Thomson Reuters expected Cisco to report revenue of $10.24 billion and adjusted earnings per share of $0.35.

Revenue was up 6 percent from the second quarter of Cisco's fiscal 2010 but earnings per share fell 8 percent. Three months ago, Cisco warned that second-quarter results would fall short of expectations due to softness in some key vertical and geographic markets.

Net income, on an adjusted basis, was $2.1 billion in the second quarter.

"The quarter played out as we expected. Our strategy of tightly integrating our multiple products through an architectural approach is working, and we are delivering innovation in each major product family," said John Chambers, Cisco chairman and CEO, in a statement. "As a company, we are going through a period of transition as we move aggressively in the market with our architectural strategy. We have managed these market transitions many times, positioning Cisco and our customers for success. Simply put, we are owning our evolution and the next generation of industry leadership."

Net sales for the first six months of fiscal 2011 were $21.2 billion, compared with $18.8 billion for the first six months of fiscal 2010. Adjusted net income for the first six months of fiscal 2011 was flat at $4.5 billion, or $0.80 per share, compared with $4.5 billion, or $0.76 per share, for the first six months of fiscal 2010.

Jim Duffy reports for Network World.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Jim Duffy

IDG News Service
Topics: business issues, Cisco Systems, Networking, financial results
Comments are now closed.

Latest News Articles

Most Popular Articles

Follow Us

GGG Evaluation Team

Kathy Cassidy

STYLISTIC Q702

First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.

Anthony Grifoni

STYLISTIC Q572

For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.

Steph Mundell

LIFEBOOK UH574

The Fujitsu LifeBook UH574 allowed for great mobility without being obnoxiously heavy or clunky. Its twelve hours of battery life did not disappoint.

Andrew Mitsi

STYLISTIC Q702

The screen was particularly good. It is bright and visible from most angles, however heat is an issue, particularly around the Windows button on the front, and on the back where the battery housing is located.

Simon Harriott

STYLISTIC Q702

My first impression after unboxing the Q702 is that it is a nice looking unit. Styling is somewhat minimalist but very effective. The tablet part, once detached, has a nice weight, and no buttons or switches are located in awkward or intrusive positions.

Resources

Best Deals on GoodGearGuide

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?