Cisco (CSCO - Get Report) beat Wall Street's second-quarter earnings and revenue estimates. The networking company reported revenue Wednesday of $12.1 billion, up from $11.5 billion a year earlier and just above analysts' estimates of $12.06 billion. Excluding items, Cisco earned 51 cents a share, compared with 47 cents a year earlier. Analysts were looking for profit of 48 cents. The company's non-GAAP earnings included a tax benefit of about 1 cent a share. "Cisco delivered record earnings per share this quarter and record revenue for the eighth quarter in a row in a challenging economic environment," CEO John Chambers said in a statement released after the market close. For the third quarter, Cisco predicted revenue between $12.06 billion and $12.3 billion and earnings, excluding items, between 48 cents a share and 50 cents a share. Analysts are looking for sales of $12.22 billion and earnings of 49 cents a share. Cisco's second-quarter gross margin came in at 60.7%, down from 61% in the first quarter. In the prior year's quarter, Cisco's gross margin was 61.3%. Cisco Beats Earnings Estimates, Delivers Record Revenue
Automaker General Motors (GM - Get Report) is expected by analysts Thursday to report fourth-quarter earnings of 51 cents a share on revenue of $39.14 billion.
Whole Foods (WFMI), the natural and organic grocery chain, said Wednesday that fiscal first-quarter profit rose 24% as revenue jumped almost 14%. Whole Foods narrowed its revenue forecast and said its earnings growth may slow through the remainder of the fiscal year.
PepsiCo (PEP) is expected by analysts Thursday to report fourth-quarter earnings of of $1.05 a share on revenue of $19.7 billion. 5 Stocks With Big Insider Buying
CBS (CBS) is expected to post fourth-quarter earnings of 69 cents a share.
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