While overall stocks fell this morning on new jobs data, Cisco shares were trading up slightly, to $23.28, after the company reported its latest earnings and gave an upbeat sales forecast.
In its fiscal second quarter, Cisco earnings were $1.9 billion, up 23 percent from $1.5 billion a year ago. Net sales for the quarter were $9.8 billion.
The company says it expects sales for the current quarter to rise 23 percent to 26 percent compared with the same quarter a year ago.
“Our outstanding Q2 results exceeded our expectations and we believe they provide a clear indication that we are entering the second phase of the economic recovery. During the quarter we saw dramatic across-the-board acceleration and sequential improvement in our business in almost all areas,” said Cisco Chairman and CEO John Chambers in a statement.
During the quarter, Cisco completed the acquisition of Starent Networks, supplier of IP-based mobile infrastructure solutions.
Filed Under: Infrastructure