Source Pravda.Ru

The World's Most Valuable Company Promises Well

The company posted net profit of $772m or 10 cents per share in the three months to the end of July, compared with $7m in the same period last year. The results reflects steady demand for the company's products as well as its cost cutting efforts, including its decision to cut 8,500 jobs last year. Cisco has benefited from the fact that many of its customers are government agencies or large corporations that have not cut their spending as dramatically as telecoms companies. However the company remains cautious on the prospects for recovery, commenting that customers are cautious but steady. Revenues rose to $4.89bn from $4.3bn in the same quarter a year previously, but were up only slightly from the previous quarter, when revenues stood at $4.82bn. Once the star of the high-tech sector Cisco fell dramatically to earth when the dot.com bubble burst. Its shares have fallen 33% this year. The company announced on Tuesday that it was increasing its share buyback programme to $8bn from $3bn. Shares had risen in anticipation of the earnings report earlier in the day, but fell slightly in after hours trading.

©

&to=http://www.cisco.com' target=_blank>CISCO

Comments
The World Cup has changed the world in one month
Donbass referendum: Putin’s bright move to force Ukraine to obey
West at a loss: Russia is ready for $40 oil price
Americans obtain secret information about Russia’s new Avangard missiles
Will Iran close the Strait of Hormuz to trigger global oil crisis?
Can USA and Russia reset their relationship in Helsinki or is it a waste of time?
Will Iran close the Strait of Hormuz to trigger global oil crisis?
Will Iran close the Strait of Hormuz to trigger global oil crisis?
Will Iran close the Strait of Hormuz to trigger global oil crisis?
Russian party girl Nastya Rybka refuses to please Washington
Can USA and Russia reset their relationship in Helsinki or is it a waste of time?
Melania Trump starstruck when shaking hands with Putin
Militant Greek atheist Alexis Tsipras betrays his people, Orthodoxy and Russia
Can USA and Russia reset their relationship in Helsinki or is it a waste of time?
Now it's Law: Israel is not a Democracy
Now it's Law: Israel is not a Democracy
Putin makes first public comment on Russian pension reform
Donbass referendum: Putin’s bright move to force Ukraine to obey
Now it's Law: Israel is not a Democracy
Americans obtain secret information about Russia’s new Avangard missiles
EU and Western Sahara: The Hassle and the Controversy!