15.02.2023 22:08:27

Cisco Systems Inc. Q2 Profit Decreases, but beats estimates

(RTTNews) - Cisco Systems Inc. (CSCO) announced earnings for second quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $2.8 billion, or $0.67 per share. This compares with $3.0 billion, or $0.71 per share, in last year's second quarter.

Excluding items, Cisco Systems Inc. reported adjusted earnings of $3.6 billion or $0.88 per share for the period.

Analysts on average had expected the company to earn $0.85 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.1% to $13.6 billion from $12.7 billion last year.

Cisco Systems Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $2.8 Bln. vs. $3.0 Bln. last year. -EPS (Q2): $0.67 vs. $0.71 last year. -Analyst Estimates: $0.85 -Revenue (Q2): $13.6 Bln vs. $12.7 Bln last year.

-Guidance: Next quarter EPS guidance: $0.96 – $0.98 Full year EPS guidance: $3.73 to $3.78

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