5 Earnings Reports You Don’t Want to Miss

4. Cisco Systems, Inc. (NASDAQ:CSCO)

Number of Hedge Fund Holders: 57

Shares of Cisco Systems, Inc. (NASDAQ:CSCO) rose nearly three percent on Thursday, February 17, 2022, after beating profit and sales expectations for its fiscal second quarter. The tech giant reported adjusted earnings of 84 cents per share, up from 79 cents per share it earned during the same period one year ago.

In addition, Cisco Systems, Inc. (NASDAQ:CSCO) posted revenue of $12.7 billion, up 6 percent on a year-over-year basis. The results exceeded analysts’ average estimate of 81 cents per share for earnings and $12.65 billion for revenue.

Cisco Systems, Inc. (NASDAQ:CSCO) also released the sales numbers of its flagship businesses. Revenue from its Secure, Agile Networks segment rose 7 percent to $5.90 billion, while revenue from the Internet for the Future segment climbed 42 percent to $1.32 billion in the quarter. On the downside, revenue from the Hybrid Work segment fell 9 percent to $1.07 billion.

Looking forward, Cisco Systems, Inc. (NASDAQ:CSCO) guided for adjusted earnings in the range of 85 – 87 cents per share for its fiscal third quarter, in line with the consensus forecast of 86 cents per share.