Menu
Cisco boosted profit, sales in Q2 while cutting costs

Cisco boosted profit, sales in Q2 while cutting costs

Cisco's earnings per share rose more than 48 percent from a year earlier

Cisco Systems posted year-over-year gains in revenue and profit for its fiscal second quarter on Wednesday, reporting net sales up 10.8 percent to US$11.5 billion, and said it met a key cost-cutting goal one quarter early.

Cisco earned $0.40 per share according to generally accepted accounting principles (GAAP), up more than 48 percent from the second quarter of 2011. Its non-GAAP profit was $0.47 per share, beating the estimate of $0.43 from analysts surveyed by Thomson Financial. The analysts had forecast sales of $11.23 billion.

"We are executing well on our three-year plan to drive earnings faster than revenue," Chairman and CEO John Chambers said in a press release. "We hit our billion-dollar expense reduction a quarter early," he added.

More to come.


Follow Us

Join the newsletter!

Or
Error: Please check your email address.

Featured

Slideshows

Looking back at the top 15 M&A deals in NZ during 2017

Looking back at the top 15 M&A deals in NZ during 2017

In 2017, merger and acquisitions fever reached new heights in New Zealand, with a host of big name deals dominating the headlines. Reseller News recaps the most important transactions of the Kiwi channel during the past 12 months.

Looking back at the top 15 M&A deals in NZ during 2017
Kiwi channel closes 2017 with After Hours

Kiwi channel closes 2017 with After Hours

The channel in New Zealand came together to celebrate the close of 2017, as the final After Hours played out in front of a bumper Auckland crowd.

Kiwi channel closes 2017 with After Hours
Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP honoured leading partners across the channel at the Partner Awards 2017 in New Zealand, recognising excellence across the entire print and personal systems portfolio.

Meet the top performing HP partners in NZ
Show Comments