Cisco Q1 EPS, Revenue Top Estimates
Shares of Dow component Cisco Systems (NASDAQ: CSCO) soared by more than two percent in Tuesday's after-hours session after the maker of networking gear reported a fiscal first-quarter profit of $0.48 a share on revenue of $11.9 billion. Analysts expected a profit of $0.46 a share on revenue of $11.78 billion.
"We delivered record results this quarter -- with revenue growth of 6 percent and strong earnings per share growth -- demonstrating our vision and strategy are working," said Cisco CEO and Chairman John Chambers in a statement.
Cash flow from operations fell to $2.5 billion from $3.1 billion in the fiscal fourth quarter. California-based Cisco reported cash, cash equivalents and investments of $45 billion at the end of the quarter compared with $48.7 billion at the end of the fourth quarter. The company said it repurchased $1 billion worth of its own shares during the quarter.
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