Like The Herald Business Journal on Facebook!
The Herald of Everett, Washington
Heraldnet.com

The top local business stories in your email

Contact Us:

Josh O'Connor
Publisher
Phone: 425-339-3007
joconnor@heraldnet.com

Jody Knoblich
General Sales Manager
Phone: 425-339-3445
Fax: 425-339-3049
jknoblich@heraldnet.com

Jim Davis
Editor
Phone: 425-339-3097
jdavis@heraldnet.com

Site address:
1800 41st Street, S-300,
Everett, WA 98203

Mailing address:
P.O. Box 930
Everett, WA 98206

HBJ RSS feeds

Cisco's 1Q earnings rise 18 percent

SHARE: facebook Twitter icon Linkedin icon Google+ icon Email icon |  PRINTER-FRIENDLY  |  COMMENTS
By Peter Svensson
Associated Press
Published:
NEW YORK -- Cisco Systems Inc., the world's largest maker of computer networking gear, said Tuesday that U.S. companies are starting to spend again, helping Cisco find more solid footing after some shaky months early this year.
Cisco said its earnings rose 18 percent in the latest quarter, propelled by a renewed willingness by large U.S. businesses to invest in big-ticket networking gear, even as the federal government continued to hold back. Orders from large business customers in the U.S. rose 9 percent from a year ago.
The company's stock rose $1.11, or 6.6 percent, to $17.96 in extended trading Tuesday.
Cisco made $2.1 billion, or 39 cents per share, in its fiscal first quarter, which ended Oct. 27. That compares with $1.8 billion, or 33 cents per share, in the same period a year ago.
Excluding the cost of stock-based compensation and certain other items, Cisco would have earned 48 cents per share. On that basis, Cisco's earnings were 2 cents above the average analyst estimate, according to FactSet.
Revenue rose 5.5 percent to $11.9 billion, beating Wall Street estimates. Excluding the acquisition of video technology company NDS, which closed just before the end of the quarter, revenue would have risen 4 percent.
The San Jose, Calif., company forecast earnings for the current quarter of 47 cents to 48 cents per share. Analysts have been expecting 48 cents per share. The company projected revenue of $11.9 billion to $12.1 billion, bracketing the average analyst estimate.

MORE HBJ HEADLINES

CALENDAR

Share your comments: Log in using your HeraldNet account or your Facebook, Twitter or Disqus profile. Comments that violate the rules are subject to removal. Please see our terms of use. Please note that you must verify your email address for your comments to appear.

You are logged in using your HeraldNet ID. Click here to update your profile. | Log out.

Our new comment system is not supported in IE 7. Please upgrade your browser here.

comments powered by Disqus

Market roundup