We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Cisco Systems (CSCO) Beats Earnings, Down Slightly on Job Cuts
Read MoreHide Full Article
Cisco Systems (CSCO - Free Report) just released its Q4 FY2016 earnings results, posting earnings of $0.58 per share and revenue of $12.6 billion.
Currently, Cisco has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key facts from this just announced report below.
Cisco:
1. Beat earnings estimates. The company posted earnings of $0.58 per share (Excluding $0.02 from non-recurring items), beating our Zacks Consensus Estimate of $0.55.
2. Beat revenue estimates. The company saw revenue figures of $12.6 billion, beating our estimate of $12.55 billion.
3. "We had another strong quarter, wrapping up a great year. I am particularly pleased with our performance in priority areas including security, data center switching, collaboration, services as well as our overall performance, with revenues up 2% in Q4 excluding the SP Video CPE business," said Chuck Robbins, CEO of Cisco. "We continue to execute well in a challenging macro environment."
4. Cisco plans to eliminate up to 5,500 positions (or 7 percent) from its overall workforce in a restructuring effort meant to “optimize our cost base in lower growth areas of our portfolio and further invest in key priority areas such as security, IoT (Internet of Things), collaboration, next generation data center and cloud.” The company will begin to take action on this plan in the coming quarter.
5. CSCO was down $0.25, or 0.81%, to $30.49 as of 4:25 p.m. EDT in after-hours trading shortly after its earnings report was released.
Here’s a graph that looks at Cisco’s latest earnings performance:
Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company serves businesses of various sizes, public institutions, governments, and communications service providers. Cisco Systems, Inc. sells its products directly, as well as through channel partners, such as systems integrators, service providers, other resellers, and distributors. The company was founded in 1984 and is headquartered in San Jose, California.
Check back later for our full analysis on Cisco’s latest quarterly earnings report!
If you want information on how to trade during earnings season, check out the Zacks Market Edge Podcast below.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Cisco Systems (CSCO) Beats Earnings, Down Slightly on Job Cuts
Cisco Systems (CSCO - Free Report) just released its Q4 FY2016 earnings results, posting earnings of $0.58 per share and revenue of $12.6 billion.
Currently, Cisco has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key facts from this just announced report below.
Cisco:
1. Beat earnings estimates. The company posted earnings of $0.58 per share (Excluding $0.02 from non-recurring items), beating our Zacks Consensus Estimate of $0.55.
2. Beat revenue estimates. The company saw revenue figures of $12.6 billion, beating our estimate of $12.55 billion.
3. "We had another strong quarter, wrapping up a great year. I am particularly pleased with our performance in priority areas including security, data center switching, collaboration, services as well as our overall performance, with revenues up 2% in Q4 excluding the SP Video CPE business," said Chuck Robbins, CEO of Cisco. "We continue to execute well in a challenging macro environment."
4. Cisco plans to eliminate up to 5,500 positions (or 7 percent) from its overall workforce in a restructuring effort meant to “optimize our cost base in lower growth areas of our portfolio and further invest in key priority areas such as security, IoT (Internet of Things), collaboration, next generation data center and cloud.” The company will begin to take action on this plan in the coming quarter.
5. CSCO was down $0.25, or 0.81%, to $30.49 as of 4:25 p.m. EDT in after-hours trading shortly after its earnings report was released.
Here’s a graph that looks at Cisco’s latest earnings performance:
CISCO SYSTEMS Price and EPS Surprise
CISCO SYSTEMS Price and EPS Surprise | CISCO SYSTEMS Quote
Cisco Systems, Inc. designs, manufactures, and sells Internet Protocol (IP) based networking and other products related to the communications and information technology industry worldwide. The company serves businesses of various sizes, public institutions, governments, and communications service providers. Cisco Systems, Inc. sells its products directly, as well as through channel partners, such as systems integrators, service providers, other resellers, and distributors. The company was founded in 1984 and is headquartered in San Jose, California.
Check back later for our full analysis on Cisco’s latest quarterly earnings report!
If you want information on how to trade during earnings season, check out the Zacks Market Edge Podcast below.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>