NEW YORK ( TheStreet) -- Cisco (CSCO) edged estimates for its fourth-quarter results Wednesday, beating analysts' profit expectations by two cents and posting $11.2 billion in quarterly sales, above the consensus $10.98 billion.
Shares of Cisco, down more than 30% for the year on worries of weak public sector spending and lackluster company execution, were rising in the after-hours session, up at one point by more than 10%.
"We will continue to drive at this simplification process at an even faster pace," said CEO John Chambers on the company's earnings call, nodding to the firm's ongoing restructuring. "It's an ongoing process, one not lasting several quarters, but lasting several years."Guiding for revenue growth next quarter, Chambers said that it should rise around 1% to 4%; analysts were expecting flat growth. Cisco's modest beat was pushing competitors' stocks up in the post-market session, too, with Juniper (JNPR) showing a 54-cent rise and HP (HPQ) up 29 cents. TheStreet live-blogged the conference call.
-- Blog written by Scott Moritz and James Rogers in New York.
>To follow the writers on Twitter, go to http://twitter.com/TheStreet_Tech. >To submit a news tip, send an email to: firstname.lastname@example.org.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV