Cisco earnings: 55 cents a share, vs. expected EPS of 53 cents

Cisco delivered quarterly earnings and revenue that surpassed analysts’ expectations on Wednesday.

After the earnings announcement, the networking equipment giant’s shares rose more than 1 percent in after-hours trading.

Getty Images

Getty Images

The company posted fiscal fourth-quarter earnings of 55 cents per share on $12.36 billion in sales.

Analysts had expected the company to report earnings of 53 cents a share on $12.14 billion in revenue, according to a consensus estimate from Thomson Reuters.

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The Chinese information technology market is expected to grow to $111.7 billion this year, up 7.1 percent from a year ago, making it a key area for potential growth for U.S. tech firms such as Cisco.

But Cisco has struggled to expand in China as the country has restricted global access to its high technology hardware market, according to industry analysts.

As of Wednesday’s open, Cisco shares had gained more than 13 percent year-to-date as it issued better-than-expected revenue and earnings results for the last two fiscal quarters.

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