Cisco Down Slightly After Q2 Results

Global networking giant Cisco Systems CSCO released its fiscal second-quarter earnings results after the closing bell on Wednesday. In the aftermath of the report, the stock was trading down around 1.50 percent to $20.82. The company reported net income for the quarter of $3.1 billion or $0.59 per share, compared to $2.2 billion or $0.40 per share, in last year's corresponding quarter. On an adjusted basis, Cisco reported net income of $2.7 billion or $0.51 per share, compared to $2.6 billion or $0.47 per share, last year. This compared to analysts' consensus EPS estimates of $0.48. Revenue in the second-quarter was up 5 percent to $12.10 billion from $11.53 billion in last year's second-quarter. This came in slightly ahead of Wall Street consensus revenue estimates of $12.06 billion.