TMCnet - World's Largest Communications and Technology Community



Cisco shares up after strong 1Q report
[November 14, 2012]

Cisco shares up after strong 1Q report

(Associated Press Via Acquire Media NewsEdge) NEW YORK -- Shares of Cisco Systems Inc., the world's largest maker of computer networking gear, climbed Wednesday after it reported improvements in business trends in its latest quarter.

THE SPARK: Late Tuesday Cisco said net income for the fiscal first quarter, which ended in October, rose 18 percent to $2.1 billion. Revenue rose 5.5 percent to $11.9 billion. Both beat analysts' estimates. CEO John Chambers said orders from large U.S. businesses were picking up again, after a dip earlier this year brought on by the turmoil in the world economy.

THE ANALYSIS: Wall Street commended the company on strong execution in tough times.

"Macro(economic) headwinds notwithstanding, Cisco's competitive positioning continues to improve," wrote John Slack at Caris & Co.

Shaw Wu at Sterne Agee said Cisco's report stands out in an earnings season that has featured miscues from Apple, Google, Microsoft and Intel. "We continue to believe Cisco) is an underappreciated turnaround story," he wrote.

SHARE ACTION: Cisco shares rose 86 cents, or 5.1 percent, to $17.71 in afternoon trading.

(c) 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

[ Back To's Homepage ]

Technology Marketing Corporation

35 Nutmeg Drive Suite 340, Trumbull, Connecticut 06611 USA
Ph: 800-243-6002, 203-852-6800
Fx: 203-866-3326

General comments:
Comments about this site:


© 2018 Technology Marketing Corporation. All rights reserved | Privacy Policy