Cisco Shares Rise On Q2 Beat; Offers In-Line Outlook

gained in Wednesday's extended session after the company beat second-quarter expectations and offered an outlook in line with Wall Street's views. The San Jose, California-based network equipment company changed hands recently at $28.28, up 5 percent. Cisco posted net income for the recent period of $2.4 billion, or $0.46 a share, compared with $1.4 billion, or $0.27 a share, a year earlier. Adjusted second-quarter earnings grew 8.9 percent to $0.53 a share, while revenue for the period increased nearly 13 percent to $11.9 billion, from $11.2 billion a year earlier. Wall Street expected earnings of $0.51 a share on revenue of $11.8 billion. The company forecast third-quarter adjusted earnings of between $0.51 and $0.53 a share on revenue of $12 billion. Cisco also boosted its quarterly dividend to $0.21 a share, from $0.19 in the previous period, payable April 22.