Cisco Systems beats the Street in what CEO John Chambers says are the company’s best results in three years. The network technology company reported top and bottom line numbers that came in better than what Wall Street expected. Cisco saw strong demand for switching equipment and routers. The company came in with earnings of 53 cents a share on revenues of nearly $12 billion dollars. Analysts point out that last year was awful for Cisco so the comparisons are favorable. The stock has climbed about 20% in the past year. The 52 week range – from about $21 a-share to $29 – so it’s much closer to the high. Cisco is guiding that the current quarter is right in line with Street expectations. Cisco also said it will raise its quarterly dividend by two cents to 21 cents a-share. Chambers said growth has been running about 7% in Europe, the Middle East and Africa but he also said sales in China were sluggish. Wall Street expects about 3% revenue growth for Cisco in fiscal 2015.
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