Cisco Revenue Rises as Software Business Grows
November 14 2018 - 5:00PM
Dow Jones News
By Maria Armental
Cisco Systems Inc. logged another quarter of revenue growth,
aided by its software business, and it expects those gains to
continue in the months ahead.
The California-based networking-gear maker has sought to offset
sluggishness in its legacy business of selling switches and routers
by acquiring software startups, including the $2.35 billion
acquisition of Duo Security Inc. earlier this year.
On Wednesday, Cisco said its fiscal first-quarter profit rose
48% from a year earlier to $3.55 billion, or 77 cents a share.
Excluding stock-based compensation and other items, profit rose to
75 cents a share, from 61 cents a share a year earlier.
Revenue rose 7.7% to $13.07 billion.
Analysts polled by FactSet expected a profit of 72 cents a share
on an adjusted basis on $12.86 billion in revenue.
Write to Maria Armental at maria.armental@wsj.com
(END) Dow Jones Newswires
November 14, 2018 16:45 ET (21:45 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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