Cisco Stock Surges After Strong Earnings Report

Key Takeaways

• Cisco Systems reported strong second-quarter earnings, beating analyst expectations.
• The company raised its guidance for the full year.
• Cisco shares rose nearly 7% in after-hours trading.

Cisco's Earnings Report

Cisco reported second-quarter earnings per share of 88 cents, beating analyst expectations of 86 cents. Revenue for the quarter was $13.1 billion, also beating expectations. Cisco's strong earnings were driven by growth in its networking and security businesses. The company's software and services businesses also performed well.

Cisco's Guidance

Cisco raised its guidance for the full year. The company now expects earnings per share of $3.51 to $3.58, up from its previous guidance of $3.49 to $3.56. Cisco also expects revenue to grow by 4% to 6%, up from its previous guidance of 3% to 5%.

Cisco's Stock Price

Cisco shares rose nearly 7% in after-hours trading after the company's earnings report. The stock is now trading at $56.50.

Analysts' Comments

Analysts were positive on Cisco's earnings report. They noted that the company's strong earnings and guidance show that it is well-positioned to benefit from the growing demand for networking and security solutions.

One analyst said, "Cisco's earnings report was a positive surprise. The company's strong execution and guidance show that it is well-positioned to benefit from the growing demand for networking and security solutions."

Another analyst said, "Cisco's earnings report was a solid beat. The company's strong performance in its networking and security businesses is a positive sign for the future."