Cisco Reports Q2 Beat, Raises Dividend

Silicon Valley staple Cisco Systems, Inc. CSCO reported its second quarter report after the market closed on Wednesday. Shares were down following a beat on both the top and bottom line.

• Cisco reports Q2 Adj. EPS of $0.57, beating by $0.01
• Sales came in at $11.6 billion, beating by $50 million
• The company sees Q3 Adj. EPS of $0.57-$0.59 with sales down 2% to unchanged on a year over year basis
• Cisco raised quarterly dividend from $0.26 to $0.29

"We are pleased with the quarter and the continued customer momentum as we help them drive security, automation and intelligence across the network and into the cloud," said CEO Chuck Robbins.

"This quarter we announced our intent to acquire AppDynamics which, combined with Cisco's networking analytics, will provide customers with unprecedented insights into business performance. We will remain focused on accelerating innovation across our portfolio as we continue to deliver value to customers and shareholders."

The stock was down more than 1.4 percent at $32.35.