Cisco’s revenue is finally growing again and investors are piling in

Chuck Robbins, CEO of Cisco.

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Chuck Robbins, CEO of Cisco.
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Mike Blake/Reuters

Cisco finally reversed a 2 year revenue decline with results for its recently-ended fiscal second quarter that beat analyst expectations.

The computer networking company forecast financial results for the current quarter that topped Wall Street targets, sending its stock up 5% in after hours trading on Wednesday.

The company also declared a quarterly dividend of $0.33 per common share – up $0.4 or 14% over the previous quarter.

Here are Cisco’s results:

Revenues (GAAP) were $11.9 billion, up 3% from the same time last year. This is compared to analyst estimates of $11.81 billion.

Earnings per share (adjusted) were $0.63, compared to analyst estimates of $0.59.

Projected revenues (GAAP) for the fiscal third quarter of 2018 are $12.26 billion to $12.5 billion, compared to analyst estimates of $12.13 billion.

Projected earnings per share (adjusted) for the fiscal third quarter of 2018 are $0.64 to $0.66, compared to analyst estimates of $0.63.