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From the News Desk
Friday, 1. September 2006
Cisco Q3 Earnings Rise Slightly; Beats Wall Street View
Network equipment maker Cisco Systems Inc. has posted third quarter earnings that beat Wall Street estimates. It earnings rose slightly to 22 cents from 21 cents in the year ago quarter as the number of outstanding shares declined. The net income fell to USD 1.4 billion from USD 1.41 billion, a year ago, mainly due to stock-based accounting.
Excluding stock-based compensation expense its net income for the quarter was USD 1.8 billion or 29 cents a share, beating Wall Street view of 26 cents a share, according to Reuters Estimates.
Cisco's revenue rose to USD 7.32 billion, compared with USD 6.19 billion in the same quarter last year. That beat Wall Street forecasts of USD 7.16 billion, according to Reuters Estimates.
During the quarter the company also incurred a tax benefit of USD 124 million or 2 cents a share relating to a foreign tax settlement.
Excluding stock-based compensation expense its net income for the quarter was USD 1.8 billion or 29 cents a share, beating Wall Street view of 26 cents a share, according to Reuters Estimates.
Cisco's revenue rose to USD 7.32 billion, compared with USD 6.19 billion in the same quarter last year. That beat Wall Street forecasts of USD 7.16 billion, according to Reuters Estimates.
During the quarter the company also incurred a tax benefit of USD 124 million or 2 cents a share relating to a foreign tax settlement.
