Cisco tops Wall Street expectations

Cisco Systems Inc. reported its second quarter results for the period ended January 29, 2022, after the closing bell on Wall Street today. The company topped both revenue and earnings per share estimates. Let’s take a closer look at the key numbers.

Total revenue reported at $12.72 billion (up 6% year-over-year) vs. $12.664 billion expected.

Earnings per share at $0.84 (up 6% year-over-year) vs. analyst forecast of $0.81 per share.

“We continue to see incredibly strong demand across our portfolio, emphasizing the criticality and relevance of Cisco’s innovation,” said Chuck Robbins, chair and CEO of Cisco.

“Our robust order strength, record backlog and double-digit growth in annual recurring revenue position us well to deliver growth,” Robbins added.

Cisco Systems Inc. (CSCO) chart (weekly)

Shares of Cisco down by 0.04% on Wednesday at $54.32 per share. Here is how the stock has performed in the past year –

• 1 Month: -7.89%
• 3 Month: -4.42%
• Year-to-date: -14.39%
• 1 Year: +17.30%

Cisco is the 43^rd largest company in the world, with a total market cap of $228.80 billion.

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Sources: Cisco Systems Inc., TradingView, CompaniesMarketCap