The networking company announced the restructuring effort as part of its fiscal first quarter report. In the period that ended October 29, Cisco earned $2.7 billion, or 65 cents a share, on sales of $13.6 billion. Excluding certain costs, it would have earned 86 cents a share.
In its second quarter, Cisco expects to post per-share earnings of between 59 and 64 cents — or an adjusted profit of 84 to 86 cents — on sales of $13.3 billion to $13.5 billion. Analysts had previously projected a profit of 85 cents a share on 13.2 in sales for the period.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Good to know. Thanks.
Australia Australia Latest News, Australia Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Seagate cutting 84 jobs in Silicon Valley - Silicon Valley Business JournalThe cuts follow the hard drive maker's announcement last month it planned to cut 7.5% of its global workforce.
Source: svbizjournal - 🏆 334. / 59 Read more »
Lehigh Southwest Cement Company won't restart production at Silicon Valley plant - Silicon Valley Business JournalThe 83-year-old plant had been cited for thousands of violations over the last decade.
Source: svbizjournal - 🏆 334. / 59 Read more »
Lehigh Southwest Cement Company won't restart production at Silicon Valley plant - Silicon Valley Business JournalThe 83-year-old plant had been cited for thousands of violations over the last decade.
Source: svbizjournal - 🏆 334. / 59 Read more »
Goodwill of Silicon Valley named a Community Impact Award honoree by Silicon Valley Business Journal - Silicon Valley Business JournalCommunity Impact Awards 2022: Goodwill of Silicon Valley, which has a history that dates back to 1928, hit record revenues in 2021. Its secret: it resigned its retail racks to better capitalize on young adults’ proclivity for bargain-hunting.
Source: svbizjournal - 🏆 334. / 59 Read more »
Remote work is likely to be a target during the recession - Silicon Valley Business JournalTwitter's Elon Musk ended remote work as he warned of difficult times ahead. More executives are likely to follow his lead, but experts warn the move could backfire. Here's why.
Source: svbizjournal - 🏆 334. / 59 Read more »
Amazon laying off hundreds of workers at Sunnyvale facilities - Silicon Valley Business JournalAs part of its plan to lay off 10,000 workers, the e-commerce giant is making cuts to technical roles at its Silicon Valley locations.
Source: svbizjournal - 🏆 334. / 59 Read more »