Cisco beats on second quarter, stock jumps
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Cisco
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It reported:
- Revenue of $11.8 billion. Analysts were expecting a modest $11.7 billion. That's a beat.
- EPS of 57 cents. Analysts were expecting expecting 54 cents. That's a beat, too.
The stock has already leaped 9% in the first few minutes after Cisco reported earnings.
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Here's the press release.
For Q3 guidance, Cisco says it expects revenue growth of 1% - 4% year over year (but it has normalized that to exclude the service provider
video business that it is selling.)
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It expects non-GAAP Earnings per Share: $0.54 - $0.56.
Cisco has also declared a quarterly dividend of $0.26 per common share, that's a five cent raise, or 24%, over the previous quarter's dividend, to be paid on April 27, 2016.
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