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NAS:CSCO, Nov 15, 03:33 UTC

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Cisco Systems (CSCO) Beats Q1 Earnings & Revenue Estimates

CSCO

Cisco Systems CSCO delivered first-quarter fiscal 2019 non-GAAP earnings of 75 cents per share coming ahead of the Zacks Consensus Estimate of 72 cents per share. Strength witnessed in the company’s Security and Applications segments drove year-over-year growth. Order strength and improving traction of the subscription-based model were other tailwinds. Applications (10.9% of first-quarter revenues) consist of Collaboration portfolio of Unified Communications (“UC”), Conferencing and TelePresence, Internet of Things (“IoT”) and application software businesses such as AppDynamics and Jasper. In the first quarter, Cisco repurchased approximately 109 million shares of common stock for $5 billion, translating to an average price of $46.01 per share.

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Cisco Shares Rise on Earnings and Revenue Beat

CSCO

The stock was rising 5.5% in premarket trading on Thursday. Cisco fell 1.75% in regular trading on Wednesday in a rough day for equities. Wall Street analysts had expected adjusted earnings of 71 cents per share on revenue of $12.89 billion.

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Cisco Systems (CSCO) Announces Quarterly Earnings Results – PressOracle

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The network equipment provider reported $0.75 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.03, RTT News reports. Cisco Systems updated its Q2 2019 guidance to $0.71-0.73 EPS and its Q2 guidance to $0.71-0.73 EPS. Cisco Systems stock traded down $0.79 during mid-day trading on Wednesday, hitting $44.33. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 4,345 shares of the network equipment provider’s stock worth $211,000 after purchasing an additional 1,371 shares in the last quarter.

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Cisco Systems, Inc. (CSCO) Q1 2019 Earnings Conference Call Transcript

CSCO

With respect to guidance, please also see the slides and press release that accompany this call for further details. As a reminder, Cisco will not comment on its financial guidance during the quarter unless it is done through an explicit public disclosure. Our strategy is to enable our customers to address increasing connectivity and data growth while securely enabling workloads across any combination of private, public, or multi-cloud environments. Yesterday, we expanded our collaboration offerings with a full suite of cloud calling and team collaboration tools to extend our customers' on-premise investments with new hybrid solutions from the cloud to the end user. In this past quarter, you've seen a lot of volatility on exchange rates as well as the pending implementation of these tariffs. So I'm wondering if you're seeing any change, whether customers are pulling forward deals or reducing deal size, etc.

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Data#3 scoops global award at Cisco Partner Summit - Software - CRN Australia

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The award ceremony took place during the summit, recognising partners across the globe in specific technology market categories and overall performance and geographic regions. “Data#3’s continued investment in Cisco has been instrumental in providing industry-leading services to our customers,” Data#3 group practice manager Graham Robinson said. Data#3 general manager for infrastructure solutions John Tan told CRN the award recognised Data#3’s leadership in driving software sales, building out its software practices and following that up with lifecycle services. This week at Cisco Partner Summit, the vendor has reinforced its vision to transform into a software-led company, overhauling its partner programs to reward software sales as well as encouraging recurring revenue models and customer experience.

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Cisco Systems (CSCO) Releases Q2 2019 Earnings Guidance – PressOracle

CSCO

Cisco Systems (NASDAQ:CSCO) issued an update on its second quarter 2019 earnings guidance on Wednesday morning. The company had a trading volume of 36,662,656 shares, compared to its average volume of 24,002,076. The firm’s revenue was up 5.9% on a year-over-year basis. As a group, equities research analysts expect that Cisco Systems will post 2.67 earnings per share for the current year. Cowen raised their price target on Cisco Systems from $51.00 to $58.00 and gave the stock an outperform rating in a research report on Thursday, August 16th.

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Cisco Systems (CSCO) Issues Q2 Earnings Guidance – PressOracle

CSCO

Cisco Systems (NASDAQ:CSCO) issued an update on its second quarter earnings guidance on Wednesday morning. The company issued revenue guidance of +5-7% to ~$12.24-12.47 billion, compared to the consensus revenue estimate of $12.54 billion.Cisco Systems also updated its Q2 2019 guidance to $0.71-0.73 EPS. The company had a trading volume of 34,363,258 shares, compared to its average volume of 24,002,076. Finally, BMO Capital Markets raised their price target on Cisco Systems from $43.00 to $48.00 and gave the stock a market perform rating in a research report on Thursday, August 16th.

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Cisco stock rises as execs show confidence after earnings beat

CSCO

Cisco Systems Inc. shares advanced in the extended session Wednesday after the networking giant’s earnings topped Wall Street estimates, even as services revenue fell short of the consensus view for a third quarter in a row.

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