Adam Galica | CNBC
Chuck Robbins, CEO of Cisco, speaking at WEF 2019 in Davos, Switzerland, January 23, 2019.
Cisco's shares advanced Wednesday after the network equipment manufacturer reported quarterly revenue and earnings higher than analysts' estimates.
Here are the key figures for the second fiscal quarter of Cisco:
Revenues increased by approximately 5% over the same period last year, which ended on January 26th.
Cisco shares have jumped 9.6% since the beginning of the year, closing Wednesday at $ 47.50. The stock rose 3.7% to 49.27 USD after the report.
Cisco's most important business sector, which includes switches and data center routers, reached $ 7.13 billion, more than the $ 7.07 billion estimate established by analysts surveyed by FactSet.
The application-related business figure, including AppDynamics and WebEx, stands at $ 1.47 billion, exceeding FactSet's consensus estimate of $ 1.35 billion. Security revenue amounted to $ 658 million, exceeding the estimate of $ 629 million.
Cisco announced a 4-6% increase in its third-quarter revenue and adjusted earnings of between 76 and 78 cents per share. Analysts expect an expected profit of 77 cents per share, excluding some elements, according to Refinitiv.
The Cisco board of directors approved a $ 15 billion increase in the company's share buyback program, bringing the total amount it can buy back to $ 24 billion. Cisco also increased its quarterly dividend by 6% to 35 cents per share.
During the quarter, Cisco announced the acquisition of Luxtera for $ 660 million and a partnership with Amazon Web Services.
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