Cisco earnings (NASDAQ:CSCO) were released late in the day on Tuesday afternoon and the company impressed in its results, helping to lift CSCO stock on a profit and sales beat.
The San Jose, Ca.-based company amassed revenue of $12.45 billion for its second quarter of its fiscal 2019, which marked a 5% increase when compared to its year-ago quarter. The figure was also ahead of the $12.41 billion that the Wall Street consensus estimate called for, according to data compiled by Refinitiv.
Cisco added that its earnings for the period tallied up to 73 cents per share on an adjusted basis when excluding certain items. The figure was a touch above the 72 cents per share that analysts were calling for in their guidance, according to data amassed by Refinitiv.
The tech company’s largest business segment includes its data center switches and routers, and it managed to rake in revenue of $7.13 billion, ahead of the $7.07 billion that analysts were forecasting, according to a survey of analysts conducted by FactSet.
Cisco’s applications revenue includes businesses such as its AppDynamics and WebEx, bringing in sales of $1.47 billion. The figure was stronger than the $1.35 billion that analysts were calling for in their FactSet guidance. Security revenue was $658 million, $29 million ahead of the mark.
CSCO stock is surging roughly 3.9% after the bell on Wednesday afternoon following a positive three-month period for the company as it starts the second half of its fiscal 2019.