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.

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags business issuesNetworkingfinancial resultsCisco Systems

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

Jim Duffy

IDG News Service
Show Comments

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Cate Bacon

Aruba Instant On AP11D

The strength of the Aruba Instant On AP11D is that the design and feature set support the modern, flexible, and mobile way of working.

Dr Prabigya Shiwakoti

Aruba Instant On AP11D

Aruba backs the AP11D up with a two-year warranty and 24/7 phone support.

Tom Pope

Dynabook Portégé X30L-G

Ultimately this laptop has achieved everything I would hope for in a laptop for work, while fitting that into a form factor and weight that is remarkable.

Tom Sellers

MSI P65

This smart laptop was enjoyable to use and great to work on – creating content was super simple.

Lolita Wang

MSI GT76

It really doesn’t get more “gaming laptop” than this.

Featured Content

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?