Why Cisco Shares Are Up 4% Today
Shares of networking technology outfit Cisco Systems (NASDAQ: CSCO) are up 4% as of 11:45 a.m. ET after reporting healthy fiscal second-quarter results, then bolstering their bullish impact by introducing a substantial stock-buyback plan.
For the three-month stretch ending in late January, Cisco Systems turned $12.7 billion worth of revenue into an operating per-share profit of $0.84. Both figures were 6% better than their year-ago comparisons, but perhaps more important, both numbers topped analysts' expectations for a top line of just under $12.7 billion and a bottom line of $0.81 per share. While the company acknowledges the difficulty of operating in an environment crimped by supply chain issues and the lingering fallout from the COVID-19 pandemic, it's mostly pushing past those headwinds.
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Source Fool.com
