Why Cisco Systems Stock Was Up Thursday
Shares of Cisco Systems (NASDAQ: CSCO) were up 4% as of 11:07 a.m. ET on Thursday after an upbeat second-quarter earnings report.
Revenue and earnings beat Wall Street estimates, and management had some positive comments about the direction of near-term business trends that lifted investor confidence in the networking leader.
Cisco said revenue increased by 16% year over year, with adjusted earnings per share up 37%. Results were boosted by Cisco's ongoing transformation to a more software-oriented business. Software revenue surged 17%, while subscription revenue grew 20% over the year-ago quarter.
Source Fool.com
Cisco Systems Inc. Stock
€100.58
2.750%
The stock is an absolute favorite of our community with 42 Buy predictions and no Sell predictions.
With a target price of 112 € there is a slightly positive potential of 11.35% for Cisco Systems Inc. compared to the current price of 100.58 €.
