Cisco Earnings Fall 18 Percent In Second Quarter

SAN JOSE (AP) – Cisco said Wednesday that its net income fell 18 percent in the latest quarter, as sales growth slowed.

The world’s largest maker of computer-networking equipment said it earned $1.5 billion, or 27 cents per share, in its fiscal second quarter, which ended Jan. 29. That compares with $1.9 billion, or 32 cents per share, in the same quarter a year ago.

Excluding items and the cost of stock-based compensation, Cisco Systems Inc. earned 37 cents per share, 2 cents more than the average forecast of analysts polled by FactSet.

Revenue at the company was $10.4 billion, up 6 percent from a year ago. Analysts were expecting $10.3 billion.

The company warned late last year that sales to government customers were dropping off.

(© 2011 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

Comments

One Comment

Leave a Reply

Fill in your details below or click an icon to log in:

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More From CBS San Francisco

Get The New CBS SF Bay Area Local App
Got Our Weather App?

Listen Live