Cisco delivered in-line second quarter financial results Wednesday after the bell. The tech giant reported a net income of $2.8 billion, or 63 cents per share. Non-GAAP earnings were 73 cents per share on a revenue of $12.4 billion, up 7 percent year over year. A year ago, Cisco earned 63 cents a share on sales of $11.9 billion. Featured stories Top cloud providers 2019: AWS, Microsoft Azure, Google Cloud; IBM makes hybrid move; Salesforce dominates SaaS Why should I pay to move to Windows 10? Tech that stole our heart or broke it Best Presidents’ Day 2019 deals: XPS 13, iPad, Apple Watch, Echo, Samsung TV, and more Wall Street was looking for earnings of 72 cents per share with $12.4 billion in revenue. Cisco’s shares were up nearly 4 percent after hours. For the current quarter, Wall Street is looking for non-GAAP earnings of 76 cents per share with $12.84 billion in revenue. Cisco responded with a revenue outlook that ranges from a 4 percent to 6 percent increase, with EPS between 76 cents a share and 78 cents a share. Cisco’s revenue by segment breaks revenue down in the following categories: infrastructure platforms, applications, security, services and other. Infrastructure platforms revenue was up 6 percent to $7.13 billion; applications revenue was up 24 percent to $1.5 billion; security revenue was up 18 percent to $658 million; and other products revenue was $22 million, down 91 percent. Cisco’s board of directors also approved a $15 billion increase to… [Read full story]
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