Cisco: Q2 earnings will beat estimates


Cisco: Q2 earnings will beat estimates

Cisco Systems has announced it will release financial results which exceed estimates for its second-quarter earnings.

The networking equipment specialist released a statement prompted by what it called the "inadvertent" release of positive information about its second-quarter results in a memo from a Cisco executive, the company said.

"The communication also said that Cisco's booked orders, for products only, were $3.9bn (£2.7bn) versus an internal goal of $3.75bn for the quarter," the company said. The memo did not include specific information about revenues or earnings for the quarter.

"As previously scheduled, we will release financial results for the quarter after the close of the market today," said Cisco chief financial officer Larry Carter. "To minimise any potential confusion, the results we announce will exceed the current consensus estimates of earnings per share and revenues for the second quarter of our fiscal year."

"We felt it was necessary to disclose this information publicly, given the broad internal distribution of the communication," Carter added.

Analysts surveyed by Boston-based First Call/Thomson Financial said they expect earnings of 5 cents per share on revenue of between $4.5bn (£3.2bn) and $4.6bn.

Email Alerts

Register now to receive IT-related news, guides and more, delivered to your inbox.
By submitting your personal information, you agree to receive emails regarding relevant products and special offers from TechTarget and its partners. You also agree that your personal information may be transferred and processed in the United States, and that you have read and agree to the Terms of Use and the Privacy Policy.

COMMENTS powered by Disqus  //  Commenting policy