Cisco Systems beats analysts' forecast, revenue up 6 per cent
14 Nov 2012
Cisco Systems Inc posted first – quarter results that beat analysts' projections but earnings were expected to be flat this quarter. The company is also expecting slower revenue growth for the current quarter.
According to chief executive officer John Chambers, the company expected Europe to get worse before it started getting better. The comments were in line with the company's fourth quarter earnings call in August.
However, Chambers added that signs of improvement in the US in enterprise, service provider and commercial were expected.
Chamber said, it was too early to speak of a trend though the company was continuing to see what it liked.
Cisco added it expected earnings per share, excluding items, of 47 cents to 48 cents in its fiscal second quarter, which ran until the end of January. The company reported EPS at 47 cents a year earlier.
It added it saw revenue growth in a range of 3.5 per cent to 5.5 per cent, as against 11.6 per cent growth in the second quarter of 2012.