Cisco (CSCO) Beats Earnings Estimates
Elyse Andrews, Cabot Headline News
November 05, 2009
Cisco Systems (CSCO) beat quarterly sales and profit targets and issues a bullish forecast on Wednesday, according to Investor’s Business Daily.
The networking gear giant earned 36 cents per share, excluding special items, for the first quarter, which ended on October 24, IBD reported. While that’s down 14% from a year ago, it’s well above the Wall Street consensus of 31 cents.
Cisco’s sales fell 13% from a year earlier to $9 billion, but that beat analysts’ forecasts by about 3%, according to IBD. The company expects sales to increase 1% to 4% for the current quarter versus a year earlier.
Cisco (CSCO) is currently featured in Cabot Benjamin Graham Value Letter’s list of the 250 top stocks.
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