SAN JOSE (CBS/AP) – Cisco’s earnings jumped 56 percent in the latest quarter compared with last year, when it was in the throes of a restructuring program.
The results beat expectations, and the San Jose-based company rewarded investors by raising its dividend by 75 percent.
Cisco says it earned $1.9 billion, or 36 cents per share, in its fiscal fourth quarter, spanning May to July. That compares with income of $1.2 billion, or 22 cents per share, in the same period a year ago.
Excluding the cost of stock-based compensation and certain other items, Cisco says it would have earned 47 cents per share. On that basis, Cisco’s earnings were 2 cents above the average analyst estimate, as polled by FactSet.
Revenue rose 4.4 percent to $11.7 billion, beating estimates.
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