Cisco Earnings Show Signs of Turnaround

Cisco is San Jose's largest employer

Wednesday, Nov 9, 2011  |  Updated 3:46 PM PDT
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Cisco Earnings Show Signs of Turnaround

AP

Cisco buildings are everywhere in north San Jose.

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Cisco Systems, the world's largest maker of computer networking gear, is showing signs of pulling a turnaround, exceeding analyst sales expectations for the second quarter in a row.

 The San Jose-based company had net income of $1.8 billion, or 33 cents per share, in the fiscal first quarter, which ended in October. That compares with $1.9 billion, or 34 cents per share, a year ago.

Excluding special items, earnings were 43 cents per share, 3 cents above the average projection of analyst polled by FactSet.       

Revenue grew nearly 5 percent from last year to $11.3 billion.

 That was about $230 million above analyst estimates.

        Cisco Systems Inc. has been slashing jobs and culling divisions this year in an effort to revive growth

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