Cisco Systems results beat Street, CEO sees challenge in Europe

Comments 0
Cisco Systems results beat Street, CEO sees challenge in Europe (Reuters) Cisco Systems results beat Street, CEO sees challenge in Europe (Reuters)
SummaryCisco Systems Inc's quarterly results topped Wall Street views on Wednesday.

Calderoni said demand for equipment to enable data centers and cloud computing were the main drivers in Cisco's results, as well as demand for infrastructure for wireless networks, mobility and service provider video.

Cisco's core business is routers and switches, which direct Internet traffic, but the company has begun to focus on data centers, enabling and providing cloud computing technology and video platforms, as well in its goal to become the No. 1 Information Technology company.

Its data center business showed 65 percent growth compared with the previous year, while its wireless business and service provider video offerings grew 27 percent and 20 percent, respectively.

"They did say they got a benefit from taxes," Shaw Wu, an analyst at Sterne Agee, said of the second quarter result. "When you (take) that out, it's 50 cents. That still beat by 2 cents."

Single Page Format
Ads by Google
Reader´s Comments
| Post a Comment
Please Wait while comments are loading...