SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Cisco Systems Inc. (CSCO) on Wednesday reported fiscal second-quarter net income of $2.63 billion.
On a per-share basis, the San Jose, California-based company said it had net income of 65 cents. Earnings, adjusted for one-time gains and costs, were 87 cents per share.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 84 cents per share.
The seller of routers, switches, software and services posted revenue of $12.79 billion in the period, which also beat Street forecasts. Ten analysts surveyed by Zacks expected $12.72 billion.
For the current quarter ending in April, Cisco expects its per-share earnings to range from 84 cents to 86 cents.
The company said it expects revenue in the range of $12.1 billion to $12.3 billion for the fiscal third quarter.
Cisco expects full-year earnings in the range of $3.68 to $3.74 per share, with revenue ranging from $51.5 billion to $52.5 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CSCO at https://www.zacks.com/ap/CSCO