Join        Login             Stock Quote

Cisco Systems (CSCO) 2Q Earnings Jump 44 Percent, Beat Estimates

 February 13, 2013 04:37 PM

(By Balaseshan) Cisco Systems Inc. (NASDAQ: CSCO) reported a 44 percent jump in quarterly earnings on strong sales growth. Results exceeded the Street's expectations.

Earnings for the second quarter were $3.14 billion, or $0.59 per share, up from $2.18 billion, or $0.40 per share, last year. Adjusted earnings per share (EPS) rose to $0.51 from $0.47.

Sales increased 5 percent to $12.10 billion.

Analysts, on average, polled by Thomson Reuters expected a profit of $0.48 per share on revenue of $12.06 billion for the second quarter.

Product sales increased to $9.44 billion from $9.12 billion, while service sales rose to $2.66 billion from $2.41 billion.

[Related -Colgate-Palmolive (CL) Dividend Stock Analysis]

Operating expenses rose 5.1 percent to $4.55 billion. Operating income rose to $2.79 billion from $2.73 billion.

Cash flows from operations were $3.3 billion for the second quarter, up from $3.1 billion last year. Cash and cash equivalents and investments were $46.4 billion at the end of the second quarter of fiscal 2013, up from $45.0 billion at the end of the first quarter of fiscal 2013.

Cisco repurchased about 25 million common shares under the stock repurchase program at an average price of $20.15 per share for an aggregate $500 million.

As of January 26, 2013, Cisco had repurchased and retired 3.8 billion common shares at $20.34 per share for an aggregate purchase price of about $76.9 billion since the inception of the stock repurchase program. The balance authorized amount for stock repurchases under this program is about $5.1 billion with no termination date.

[Related -Citrix Systems, Inc. (NASDAQ:CTXS): A Look At Opportunities And Threats]

CSCO closed Wednesday's regular session up 0.81 percent at $21.14. The stock has been trading between $14.96 and $21.34 for the past 52 weeks.

iOnTheMarket Premium


Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageUS REITs Edged Higher Last Week As Emerging Markets Slumped

Real estate investment trusts (REITs) in the US took the lead in last week’s shortened holiday trading week read on...

article imageA Contrarian Perspective On The Short EuroTtrade

As the euro continues to drift lower, it has become the accepted wisdom that we are headed for parity with read on...

article imageEmerging-Markets Stocks Took The Lead Last Week

Emerging-markets equities enjoyed a solid rise last week among the major asset classes, based on a set of read on...

article imageDoes Your Latest Investment Pass This Test?

On Wednesday, I sounded the alarm about the problems looming for some consumer staples stocks. In short, read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.