Company News: Cisco Systems’ (CSCO) quarterly profit beats expectations

Market news

13 November 2015

Company News: Cisco Systems’ (CSCO) quarterly profit beats expectations

Cisco reported Q1 (Oct) earnings of $0.59 per share, beating analysts' consensus of $0.56.

The company's revenues amounted to $12.682 bln (+3.6% y/y), generally inline with consensus estimate of $12.648 bln.

Cisco expects Q2 EPS of $0.53-0.55 (versus consensus of $0.56) and $11.94-12.17 bln (versus consensus of $12.54 bln).

CSCO fell to $26.30 (-5.50%) in pre-market trading.

International Energy Agency expects the global oil demand in 2016 to decline to 1.2 million barrels a day

Foreign exchange market. European session: the euro traded mixed against the U.S. dollar after the release of the weaker-than-expected GDP data from the Eurozone

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