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Cisco Systems Gets Its Groove Back
posted by MR WAVETHEORY at 8/08/2006 08:49:00 PM
Cisco (CSCO) reported earnings of 30 cents and revenues of $7.98 billion beaing on the top and the bottom line. Analysts had expected earnings of 28 cents on revenues of $7.92 billion. The earnings exceeded the top end of analysts estimates which was 29 cents per share and revenues came in at the top end of the range of estimates which was $7.98 billion. Shares are up $18.93 (+1.63) which means that it should give the Nasdaq a boost at the open.
Importantly, Cisco CFO Dennis Powell raised guidance for the quarter. Powell expects sales to increase between 15-20% vs 15%.
Mr Wave Theory