Cisco Earnings Show Signs of Turnaround - NBC Bay Area

Cisco Earnings Show Signs of Turnaround

Cisco is San Jose's largest employer



    Cisco Earnings Show Signs of Turnaround
    Cisco buildings are everywhere in north San Jose.

    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