Networking giant Cisco Systems today reported a better-than-expected fiscal second quarter and said its renewed focus is paying off.
Cisco reported fiscal second-quarter earnings of $2.2 billion, or 40 cents a share, on revenue of $11.5 billion. Non-GAAP earnings were 47 cents a share.
Wall Street was looking for earnings of 43 cents a share on revenue of $11.23 billion.
In a statement, Cisco CEO John Chambers was upbeat about the company’s execution. “Our operational focus continues to yield positive results — we hit our billion dollar expense reduction a quarter early — and our ongoing innovation enables … Read more