Cisco Beats on Q2 EPS Estimates
Cisco has reported positive numbers for fiscal Q2 2013. For the quarter, the company posted net sales of $12.1 billion and non-GAAP net income of $2.7 billion ($0.51 per share). The two line items were 5% and 44% higher, respectively, on a year-over-year basis. The revenue figure generally met analyst expectations, while EPS beat the average projection of $0.58.
In Q2 2012, the top line came in at $11.5 billion and net income was $2.6 billion ($0.47 per share).
On a conference call discussing the results, Cisco said it expected revenue in Q3 to advance by 4%-6% at an annual rate and for EPS to land at $0.48-$0.50.
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