The networking company reported revenue 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 surveyed by Thomson Reuters were looking for 48 cents.
A key barometer for enterprise IT spending, Cisco suggested that businesses, at least in some parts of the world, are re-opening their wallets.
"We continue to be pleased with the traction of our company," said Cisco CEO John Chambers, during a conference call to discuss the results, citing "a tone of cautious optimism" among the company's customers.Chambers noted particular strength in U.S. commercial orders, which he said could be an early indication of GDP growth, but acknowledged that other regions remain challenging. "We continue to see a soft global recovery," he said, pointing to weakness in parts of Europe, particularly southern Europe. Cisco was also the most active premarket Nasdaq stock on share volume of 1,313,781. NetApp (NTAP) shares slipped 1.31% to $35.35 despite meeting Wall Street's revenue estimate and beating analysts' earnings forecast in its third-quarter results on Wednesday. The Sunnyvale, Calif.-based firm also offered robust fourth-quarter guidance. Vodafone (VOD) shares slipped 2.25% to $26.05 before market open, as investors reacted to a report that the telecom giant's considering a bid for Kabel Deutschland. Shares of Vodafone closed down 2.13% on Wednesday. Vodafone was also one of the most active premarket Nasdaq stocks on share volume of 1,103,750. BlackBerry (BBRY) shares dipped 0.86% to $13.87 on share volume of 267,123. Facebook (FB) shares, however, rose 0.62% to $28.08 on share volume of 156,489. Shares of Nvidia (NVDA), which reported fourth-quarter results on Wednesday, fell 2.75% to $12.03 before market open. --Written by James Rogers in New York. Follow @jamesjrogers >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