Cisco Systems Inc. Q2 Profit Decreases, but beats estimates

(RTTNews) - Cisco Systems Inc. (CSCO) released earnings for second quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $2.63 billion, or $0.65 per share. This compares with $2.77 billion, or $0.67 per share, in last year's second quarter.

Excluding items, Cisco Systems Inc. reported adjusted earnings of $3.54 billion or $0.87 per share for the period.

Analysts on average had expected the company to earn $0.84 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.9% to $12.79 billion from $13.59 billion last year.

Cisco Systems Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $2.63 Bln. vs. $2.77 Bln. last year. -EPS (Q2): $0.65 vs. $0.67 last year. -Analyst Estimates: $0.84 -Revenue (Q2): $12.79 Bln vs. $13.59 Bln last year.

-Guidance: Next quarter EPS guidance: $0.84 - $0.86 Next quarter revenue guidance: $12.1 - $12.3 Bln Full year EPS guidance: $3.68 - $3.74 Full year revenue guidance: $51.5 - $52.5 Bln