2/13/2019, 10:09 PM (Source: TeleTrader)
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Cisco reports $12.4B in revenue, up 7% YoY

American multinational technology giant Cisco Systems, Inc. reported on Wednesday its revenue for the second quarter was 12.4 billion, up 7% compared to the same period last year. Earnings per share (EPS) were $0.63, a 65% decrease versus the same interval previous year. Net income was $2.8 billion, 68% lower year on year.

The quarterly dividend was $0.35 per common share, a 6% increase over the previous quarter's dividend. The board of the company has also approved a $15 billion increase to the authorization of the stock repurchase program.

"Our teams are executing incredibly well, aggressively transitioning to a software model and accelerating our pace of innovation. We are redefining and connecting every domain of the networking infrastructure to deliver the agility, operational efficiency and security our customers require to embrace multicloud, edge computing, and digital transformation," Cisco's CEO Chuck Robbins said, adding the board is "very pleased with the quarterly performance."

Breaking the News / MD