Cisco tops Street 2Q forecasts

SAN JOSE, Calif. (AP) _ Cisco Systems Inc. (CSCO) on Wednesday reported fiscal second-quarter profit of $2.35 billion.

The San Jose, California-based company said it had net income of 47 cents per share. Earnings, adjusted for one-time gains and costs, came to 57 cents per share.

The results beat Wall Street expectations. The average estimate of 16 analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.

The seller of routers, switches, software and services posted revenue of $11.58 billion in the period, also surpassing Street forecasts. Ten analysts surveyed by Zacks expected $11.55 billion.

For the current quarter ending in May, Cisco expects its per-share earnings to range from 57 cents to 59 cents.

Cisco shares have risen roughly 9 percent since the beginning of the year, while the Standard & Poor's 500 index has increased almost 5 percent. In the final minutes of trading on Wednesday, shares hit $32.82, an increase of 27 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CSCO at https://www.zacks.com/ap/CSCO

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Keywords: Cisco Systems, Earnings Report