Keep an eye on shares of Cisco Systems (CSCO) in Thursday’s trading session. The tech giant reported better than forecast financial results for its fiscal fourth quarter ended July 24. It was the first earnings release under the supervision of new company CEO Chuck Robbins, after taking over the reins from predecessor and current chairman John Chambers. In its latest quarter, the networking company earned $0.59 a share on revenue of $12.84 billion. Wall Street analysts had forecast a profit of $0.56 a share on revenue of $12.65 billion, according to Thomson Reuters data. Both the top and bottom line surpassed expectations and showed an improvement from the same period of last year. The network-equipment company said its numbers got a boost from strong growth of deferred revenue as it shifts to a more predictable software-based business model. TheStreet’s Kurumi Fukushima reports in New York.
Subscribe to TheStreetTV on YouTube:
For more content from TheStreet visit:
Check out all our videos:
Follow TheStreet on Twitter:
Like TheStreet on Facebook:
Follow TheStreet on LinkedIn:
Follow TheStreet on Google+:
source
