Cisco calms fears with solid 2Q performance

Summary:Cisco Systems allayed concerns about its second quarter results with earnings that topped expectations.

Cisco Systems allayed concerns about its second quarter results with earnings that topped expectations. But the outlook for the third quarter fell short of expectations as Cisco said it is seeing pricing pressure for its Catalyst switches.

The networking giant reported fiscal second quarter earnings of US$1.5 billion, or 27 cents a share, on revenue of US$10.4 billion. Non-GAAP earnings were 37 cents a share. Wall Street was expecting earnings of 35 cents a share.

As noted in a preview, analysts were expecting Cisco to rebuild its order backlog. Demand throughout the quarter looked solid. Indeed, Cisco CEO John Chambers said "the quarter played out as we expected".

Read more of "Cisco has solid second quarter, but cuts outlook as switching products under fire" at ZDNet.

Topics: Networking

About

Larry Dignan is Editor in Chief of ZDNet and SmartPlanet as well as Editorial Director of ZDNet's sister site TechRepublic. He was most recently Executive Editor of News and Blogs at ZDNet. Prior to that he was executive news editor at eWeek and news editor at Baseline. He also served as the East Coast news editor and finance editor at CN... Full Bio

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