The markets closed and CISCO reported earnings. Shares bounced up only to fall past previous price.
On first quarter results for the period ended October 25, 2014, Cisco reported:
first quarter revenue of $12.2 billion
net income on a generally accepted accounting principles (GAAP) basis of $1.8 billion or $0.35 per share
non-GAAP net income of $2.8 billion or $0.54 per share
The headline that CISCO are using is ‘Return to Growth, Strongest Q1 Revenue in History’, with strong figures in the last quarter brought about by cost-cutting and a shift to more profitable products; shares went up on a vertical line in the first hour after the announcement. However, Net Income was down by 2.3 percent from to $2.9 billion to $2.8 billion.
The report majored on the Internet of Everything [IOE] citing examples of ingress to support CISCO business.
Connected Transportation Solutions designed to offer a safer and more productive commuter experience via the Internet of Everything (IoE).
Cisco and the City of Berlin announced an IoE Innovation Center, to be located in Berlin, which will focus on manufacturing, transport and logistics.
Marking the next phase of its expansion in India, Cisco unveiled the "Cisco Smart City" as a blueprint for the future of smart and connected communities in India.
Cisco announced new Connected Safety and Security solutions that add intelligence and analytics from the core to the edge to help protect cities and businesses.
Cisco outlined an expansion of its fog computing strategy with the second phase of its IOx platform for industrial scale Internet of Things (IoT) deployments.
The announcements are on the back of new internet laws being proffered by Obama in the US, bringing internet service providers under the umbrella of utilities. This has led to telecoms companies rethinking their broadband programmes, specifically AT&T who will now delay the planned expansion of a high-speed broadband network in 100 US cities. This factor is expected to have a detrimental effect on CISCO’s plans.
After market shares in CISCO fell past their original price after the initial bounce.
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