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Cisco Beats Analysts' Sales Estimates on Growth in Americas, Collaboration business up 14%
Cisco Systems Inc. beat analysts expectations for fiscal fourth-quarter revenue, relying on strong sales in the Americas and faster growth in servers for data centers.
Sales increased 3.9 percent to $12.8 billion in the quarter ended July 25, with profit before certain costs of 59 cents a share, Cisco said Wednesday in a statement. Analysts projected sales of $12.7 billion and profit of 56 cents, according to the average of estimates compiled by Bloomberg.
The results also were in line with Cisco's forecast for the quarter. Jayson Noland, an analyst at Robert W. Baird & Co., said the network-equipment maker set achievable targets to make good on promises of a smooth transition from longtime Chief Executive Officer John Chambers to Chuck Robbins, who took over July 26.
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