The company reported earnings per share of 0.71 cents, whereas the initial forecasts were sitting at 0.69, which came in as a total of 2.9% market surprise. The company was reported revenue of $13 billion, which exceeds the $12.5 billion revenue that was reported for the same period last year. CISCO’s chairman and CEO, Chuck Robbins, had this to say[source]
“Our strong performance in the quarter was across the business, reflecting our customers’ confidence in our strategy, business model and market-leading portfolio.”
Because of the overwhelmingly positive earnings report, CISCO’s stock rose with 6.64% throughout Thursday’s trading session. The price opened with a massive gap at 54.27 from Wednesday’s closing price at 52.44, and it went on to eventually close at 55.92.
CISCO’s energetic performance gives investors hopes about the underlying stability of the online services sector and that the company can once again lead the way forward in the industry to levels that were last seen before the dot com bubble crash. At that time the company saw its shares tumbling down with more than 60 dollars in the first couple of months of 2000. The overall anticipation is for the ongoing strong bullish trend, which originated in mid-2012 to continue to extend its gains because of robust foundational data without extra volatility from the highly speculative factor.
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