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Cisco Earnings: CSCO Stock On the Move Following Q2 Report

Cisco (NASDAQ:CSCO) earnings for the American tech company’s fiscal second quarter of 2020 has CSCO stock moving in after-hours trading on Wednesday. That follows it reporting an adjusted EPS of 77 cents on revenue of $12.01 billion. For comparison, Wall Street was expecting 76 cents per share on revenue of $11.98 billion.

Cisco Earnings: CSCO Stock On the Move Following Q2 Report

Source: Ken Wolter / Shutterstock.com

Here’s what else is worth noting from the most recent Cisco earnings report.

  • Adjusted earnings per share for the quarter are up 5.48% from 73 cents in the fiscal second quarter of 2019.
  • Revenue comes in 3.53% lower compared to $12.45 billion during the same time last year.
  • Operating income of $3.38 billion is a 5.3% increase YoY from $3.21 billion.
  • The Cisco earnings report also includes a net income of $2.88 billion.
  • That’s a 2.13% boost over the company’s net income of $2.82 billion during the same period of the year prior.

Chuck Robbins, chairman and CEO of Cisco, had this to say about the CSCO stock earnings report:

“I am incredibly proud of the innovation our teams continue to drive. I am confident in our long-term growth opportunities as we help our customers build out the networks for the future.”

The Cisco earnings report also includes its guidance for fiscal Q3 2020. This has it expecting adjusted per-share earnings of 79 cents to 81 cents. That has its midpoint matching Wall Street’s estimate of 80 cents per share for the period.

CSCO stock closed out the day up 1.63%. However, the stock was down about 1% after markets closed on Wednesday

As of this writing, William White did not hold a position in any of the aforementioned securities.

Article printed from InvestorPlace Media, https://investorplace.com/2020/02/cisco-earnings-move-csco-stock/.

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