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
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $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
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV