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.
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