Cisco Blows Out Q3 Estimates, Buying Back $10B of Stock
November 04, 2009 5:10 PM
Cisco reports Q3 EPS of 36 versus Street view of 31c. Cisco reports $9 billion in revenue versus street view of $8.7 billion.
Cisco announced a $10 billion buyback.
Cisco Systems gross margin was 66.3%.
Cisco's John Chambers is seeing strong demand trends.
CSCO's Chambers noted, "Building off what we saw as a clear tipping point in Q4, our Q1 results continued to reflect strong sequential growth trends that meet or exceed expectations during normal economic times. We view the improving economic outlook, combined with solid execution on our growth strategy, as creating unparalleled opportunity to drive more value into the core of the network. Simply said, we believe that key market transitions across collaboration, virtualization and video will drive productivity and growth in network loads for the next decade, and are evolving even faster than expected."
