Networking giant Cisco today reported a 32.9 per cent rise in net profit to United States dollars 2.4 billion for the September quarter on the back of strong growth in emerging markets, including India. Over the last 12 months, a return on equity (ROE) of 15.40 percent was realized due to the financial situation and earnings per share reached a value of $1.75. Earnings per share were $0.59. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
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Cisco Systems (NASDAQ:CSCO) opened at 27.98 on Wednesday.
The company shares have rallied 13.12% from its 1 Year high price.
Cisco Systems, Inc. (NASDAQ:CSCO) has received a hold rating for the short term, according to the latest rank of 3 from research firm, Zacks. “As more deals flow goes to the cloud, big data and next gen analytics, all toward this next generation data center, there’s a battle royale with companies like Cisco, EMC, Oracle and HP trying to get at least a sliver of that market”. Following the completion of the sale, the director now owns 7,869 shares in the company, valued at approximately $218,364.75. Robbins said it partly reflects lower-than-expected growth in the first quarter due to various macroeconomic challenges and currency impacts. The company’s quarterly revenue was up 3.6% compared to the same quarter a year ago.
In related news, Director Roderick C. Mcgeary sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 21st.
Cisco Systems, Inc. has a 52 week low of $23.03 and a 52 week high of $30.31.
Cisco said it expects sales growth over the next three-month period of between zero and two per cent and reckons it will rake in 53 to 55 cents per share. The estimated revenue was of $12.65B. (NYSE:VZ) Inc. and AT&T Inc., unveiled the Binge On feature that lets subscribers watch videos from selected providers including Verizon’s go90 service without having to pay extra in data charges.
Cisco Systems beat Wall Street estimates Thursday, but offered a weak forecast for future earnings, sending shares down more than 5 percent in after-hours trading. Thomson Reuters had the consensus estimates at $0.56 EPS and $12.55 billion, so both come with risk.
As of October 24, 2015, Cisco had repurchased and retired 4.5 billion shares of Cisco common stock at an average price of $20.92 per share for an aggregate purchase price of approximately $93.9 billion since the inception of the stock repurchase program.
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With the spike in mobile traffic, Cisco Systems, Inc. Collaboration sales increased 17% year over year, while the Wireless and Security segments each improved 7%. These products, mostly integrated by Cisco IOS Applications, link geographically dispersed local-area networks (LANs), metropolitan area networks (MANs), and wide-area networks (WANs).
