Cisco (CSCO) Spanks Analyst Expectations for Q2; Boosts Payout, Guides Q3
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Price: $24.24 +1.47%
EPS Growth %: +6.3%
Financial Fact:
General and administrative: 584M
Today's EPS Names:
LBIX, ESEA, ISS, More
EPS Growth %: +6.3%
Financial Fact:
General and administrative: 584M
Today's EPS Names:
LBIX, ESEA, ISS, More
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Shares of Cisco (Nasdaq: CSCO) are volatile in the post-market session Tuesday following its second-quarter report.
For the quarter, revenue rose about 10.8 percent year over year to $11.53 billion. The number exceeded views looking for revs of just $11.25 billion.
Net income made a strong 43.5 percent move higher from $1.52 billion during the same quarter last year to $2.18 billion in the recent quarter, or 40 cents per share. Adjusting for certain one-time items, EPS came in at a more robust 47 cents per share, which bested views calling for 43 cents.
Notably, Cisco increased its quarterly dividend by 33 percent to 8 cents per share. The annual yield on the dividend is a modest -- but appreciated -- 1.6 percent at the current trading price.
Not much was in the release with respect to specific segments. Product sales rose 10.7 percent while Service revs increased about 11 percent.
Gross margin improved from 60.2 percent last year to 61.3 percent as overall cost of sales moved 7.6 percent higher...slower than revenue growth.
"We are executing well on our three-year plan to drive earnings faster than revenue," commented CEO John Chambers. "Our operational focus continues to yield positive results - we hit our billion dollar expense reduction a quarter early – and our ongoing innovation enables our customers to solve their critical business needs. You will continue to see a focused and aggressive Cisco that is helping our customers use intelligent networks to transform their businesses."
Cisco see revs growth of 5 percent to 7 percent for the third-quarter, or about $11.4 to $11.6 billion. The Street currently expects revs of $11.46 billion. Pro-forma earnings are expected to be 45-47 cents per shares, vs. the analyst consensus estimate of 45 cents.
After initially moving higher, shares are about flat at last check.
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For the quarter, revenue rose about 10.8 percent year over year to $11.53 billion. The number exceeded views looking for revs of just $11.25 billion.
Net income made a strong 43.5 percent move higher from $1.52 billion during the same quarter last year to $2.18 billion in the recent quarter, or 40 cents per share. Adjusting for certain one-time items, EPS came in at a more robust 47 cents per share, which bested views calling for 43 cents.
Notably, Cisco increased its quarterly dividend by 33 percent to 8 cents per share. The annual yield on the dividend is a modest -- but appreciated -- 1.6 percent at the current trading price.
Not much was in the release with respect to specific segments. Product sales rose 10.7 percent while Service revs increased about 11 percent.
Gross margin improved from 60.2 percent last year to 61.3 percent as overall cost of sales moved 7.6 percent higher...slower than revenue growth.
"We are executing well on our three-year plan to drive earnings faster than revenue," commented CEO John Chambers. "Our operational focus continues to yield positive results - we hit our billion dollar expense reduction a quarter early – and our ongoing innovation enables our customers to solve their critical business needs. You will continue to see a focused and aggressive Cisco that is helping our customers use intelligent networks to transform their businesses."
Cisco see revs growth of 5 percent to 7 percent for the third-quarter, or about $11.4 to $11.6 billion. The Street currently expects revs of $11.46 billion. Pro-forma earnings are expected to be 45-47 cents per shares, vs. the analyst consensus estimate of 45 cents.
After initially moving higher, shares are about flat at last check.
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