Cisco quarterly revenue beats estimates

(Reuters) - Cisco Systems Inc reported second-quarter revenue that beat Wall Street estimates on Wednesday, as the network gear maker benefited from its shift to newer businesses such as application software and cyber security. The company reported net income of $2.8 billion, or 63 cents per share, in its quarter ended Jan

Reuters February 14, 2019 04:05:19 IST
Cisco quarterly revenue beats estimates

Cisco quarterly revenue beats estimates

(Reuters) - Cisco Systems Inc reported second-quarter revenue that beat Wall Street estimates on Wednesday, as the network gear maker benefited from its shift to newer businesses such as application software and cyber security.

The company reported net income of $2.8 billion, or 63 cents per share, in its quarter ended Jan. 26, compared with a loss of $8.78 billion, or $1.78 per share, a year earlier, when it took a charge of $11.1 billion related to the new U.S. tax laws.

Total revenue rose 4.7 percent to $12.41 billion.

Analysts on average had expected revenue of $12.45 billion, according to IBES data from Refinitiv.

(Reporting by Arjun Panchadar in Bengaluru; Editing by Anil D'Silva)

This story has not been edited by Firstpost staff and is generated by auto-feed.

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