Cisco Share Rises, Economy in Recovery
by admin on Nov.09, 2009, under Pass4sure News
After Cisco reported its fiscal first-quarter results on Wednesday, Cisco shares rose the next day. The CEO John Chambers says the rise shows the strong sequential growth and indicates the recovery of economy is under way.
General speaking, the profit and revenue for the first fiscal quarter in 2009 are lower than the same quarter last year. The profit is $1.8 billion, or 36 cents per share in 2009 Q1 report, while during the same period last year, the profit is $2.2 billion, or 42 cents a share. The revenue was $9 billion in Q1 2009, down from $10.3 billion during last Q1.
However, Cisco saw a “clear tipping point†in the report. Compared with the previous quarter, the results in 2009 Q1 is growing. In the fiscal fourth quarter of 2008, the profit is $1.1 billion, or 19 cents a share and the revenue is $8.5 billion.
John Chambers said: “Building off what we saw as a clear tipping point, our results continued to reflect strong sequential growth trends that meet or exceed expectations during normal economic times.”
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