Wednesday, August 8, 2007
Cisco Systems Inc. posted a higher-than-expected 25 percent rise in quarterly profit and raised its long-term revenue target as more companies bought equipment to handle Web traffic.
The company said its fiscal fourth-quarter profit rose to $1.9 billion, or 31 cents per share, from $1.5 billion, or 25 cents per share, in the same period a year earlier.
Earnings excluding items rose to 36 cents a share, from 30 cents a year earlier, and beat the average analyst estimate by a penny, according to Reuters Estimates. Revenue also topped market expectations.
"They beat and that's good. When things are going well, as they are right now, they have enough flexibility that they can beat on a regular basis," said J.P. Morgan Securities analyst Ehud Gelblum. "Gross margin was 65 percent. The guidance is usually 64 to 65 percent. It's certainly on the good side."
By: DocMemory
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