Latest Cisco news.
Cisco profit, revenue surge ahead in Q1, 11/08/06
Cisco kept growing fast in its fiscal first quarter, posting revenue of $8.2 billion and net income of $1.6 billion or 26 cents per share.
Excluding certain items, the dominant networking vendor saw earnings per share of 31 cents, beating the consensus estimate of 29 cents from analysts polled by Thomson Financial. The analysts had predicted Cisco’s revenue for the quarter, which ended Oct. 28, would be just under $7.9 billion.
As the company expands from its core switching and routing business into new areas such as security, telephony and videoconferencing, it has hit the mark in many cases and promised strong profit growth over the remainder of this decade. Results for the first quarter didn’t disappoint, as revenue grew almost 25% and net income shot up 27.5% from the same quarter last year.
