Reuters: Technology News: Cisco sees slower growth in second quarter

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Cisco sees slower growth in second quarter Nov 13th 2012, 23:10 Tweet Share this Email Print Related News Xerox cuts profit target but raises dividend 1:05pm EST UPDATE 3-Saks sees Sandy limiting gains in holiday sales 12:26pm EST Kors expects more profits, sees demand strengthen 10:19am EST Cisco to meet quarterly target, disappoint on outlook Mon, Nov 12 2012 UPDATE 3-Dean Foods lifts view after earnings beat Thu, Nov 8 2012 Analysis & Opinion How I lost my Groupon bet AOL: Down so long, it’s starting to look up Related Topics Investing Simplified » Tech » A Cisco office is pictured in San Diego, California November 12, 2012. Credit: Reuters/Mike Blake Tue Nov 13, 2012 5:28pm EST (Reuters) - Cisco Systems Inc reported higher quarterly revenue and earnings that beat average analyst estimates due to cost cuts and the company's broad product range. First-quarter net income, excluding items, rose 10.6 percent to $2.6 billion, or 48 cents per share, compared with analysts' average estimate of 46 cents a share as compiled by Thomson Reuters I/B/E/S. Revenue rose 6 percent from the year-ago quarter to $11.9 billion, compared with a Street view of $11.77 billion. Cisco's shares rose 6.7 percent to $17.98 in after-hours trading. Analysts said the results were solid and better than anticipated. "It's largely due to a product mix - a larger shift to routing - and cost cutting. At first blush these are good numbers in a bad macro (environment)," said Mizuho Securities analyst Joanna Makris. "This is better than expected. We have been thinking they would squeak by on the top line," she added. Brian Marshall, an analyst at ISI group, said the results "looked solid." (Reporting By Nicola Leske; Editing by Phil Berlowitz) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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