Cisco shares rise on better-than-expected revenue and earnings

Cisco shares rose in extended trading on Wednesday after the manufacturer of networking equipment reported quarterly revenue and earnings that beat analysts’ estimates.

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Here are the key numbers for Cisco’s fiscal second quarter:

Earnings: 73 cents per share, excluding certain items, vs. 72 cents per share as expected by analysts, according to Refinitiv.Revenue: $12.45 billion, vs. $12.41 billion as expected by analysts, according to Refinitiv.

Revenue increased by about 5 percent from a year earlier in the quarter, which ended on Jan. 26.

Cisco shares have jumped 9.6 percent so far this year, closing on Wednesday at $47.50. The stock rose 3.5 percent to $49.15 after the report.

In the quarter Cisco announced the acquisition of Luxtera for $660 million and a partnership with Amazon Web Services.

Cisco said it expects third-quarter revenue to increase 4 percent to 6 percent and for adjusted earnings to come in at 76 cents to 78 cents a share. Analysts expect profit of forecast 77 cents a share, excluding certain items, according to Refinitiv.

Executives will discuss the results with analysts at 4:30 p.m. Eastern time.

This is breaking news. Please check back for updates.

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Source: CNBC

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