Company News: Cisco (CSCO) quarterly earnings beat analysts’ forecast

Market news

10 February 2021

Company News: Cisco (CSCO) quarterly earnings beat analysts’ forecast

Cisco (CSCO) reported Q2 FY 2021 earnings of $0.79 per share (versus $0.77 per share in Q2 FY 2020), beating analysts’ consensus estimate of $0.75 per share.

The company’s quarterly revenues amounted to $11.960 bln (-0.4% y/y), roughly in line with analysts’ consensus estimate of $11.903 bln.

The company also issued guidance for Q3 FY 2021, projecting EPS of $0.80-0.82 versus analysts’ consensus estimate of $0.81 and revenues of $12.40-12.64 bln versus analysts’ consensus estimate of $12.32 bln.

Cisco increased quarterly dividend by 3% to $0.37/share from $0.36/share.

CSCO fell to $46.25 (-4.64%) in pre-market trading.

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