Networking Giant Sees Revenue Growth on Rising Hardware Demand

Cisco reported its best revenue growth in 3 years with a better-than-expected 7 percent increase in revenue for its fiscal second quarter. CEO John Chambers said guidance for the third quarter was $0.51 to $0.53 a share, in line with Wall Street expectations. The network equipment company also announced it would boost its dividend to $0.21 a share, up 2 cents from last quarter. TheStreet’s Jim Cramer says if you want to get digitized, you have to call Cisco. The key, he says, is that Cisco offers a security component. Cramer says this reminds him of vintage John Chambers in the mid ’90s when he recognized he had a sweet spot and now it’s happening again when it comes to the Internet-of-Things. He says the best thing about Chambers is his level of confidence. Cramer says he sees the stock going to $35 within the next six months.

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