Tech content trusted by users in North America and around the world
6,800 Reviews & Articles | 46,978 News Posts
Make us an awesome TweakTown wallpaper, win a Corsair Hydro H110i GT

Cisco outperforms analysts expectations

Cisco enjoys some nice quarterly earnings, beats analysts expectations
| Business, Financial & Legal News | Posted: Aug 17, 2012 6:25 am

Cisco have announced their results for the company's most recently quarter, where they revealed earnings that beat analysts expectations. Cisco is cautiously optimistic regarding the future, but maintains that its too early to call the most recent streak a trend.




Cisco notes that the European market is something of a challenge for the company going forward. The router maker posted $11.7 billion in revenue for the three months, up 4% from the year-earlier quarter. From the $11.7 billion, Cisco took $2.5 billion in operating profit, or 47 cents per share. Wall Street analysts pegged the company to do around $11.6 billion in revenue for the quarter.


The company cited strong Asian demand on their products and services, in particular, China. Cisco saw improvement in the US market, but the European market with its on-going economic problems, saw demand for Cisco-based gear drop. Cisco expects that the on-going financial crisis in Europe will continue to see Cisco orders drop in that part of the world. In order to keep the trend of nice profits, Cisco plans on cost-cutting which they've been doing for quite a while now. This will involve significant job cuts and a refocusing of the company's efforts.


Related Tags

Got an opinion on this news? Post a comment below!
Subscribe to our Newsletter

Latest News Posts

View More News Posts

Forum Activity

View More Forum Posts

Press Releases

View More Press Releases