Cisco’s efforts to revamp its business — cutting jobs and shaving $1 billion from expenses — seems to be paying off. After three disappointing quarters, the company wowed the street with its fourth-quarter performance, delivering $11.2 billion in sales, exceeding Wall Street’s forecast of $10.98 billion. The company delivered GAAP income of $1.2 billion or $0.22 per share, and non-GAAP income of $2.2 billion or $0.40 per share. Now that’s more like it.
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Cisco Comes Roaring Back
Posted by: Rob Spiegel August 11, 2011 12:36 PMCisco’s efforts to revamp its business — cutting jobs and shaving $1 billion from expenses — seems to be paying off. After three disappointing quarters, the company wowed the street with its fourth-quarter performance, delivering $11.2 billion in sales, exceeding Wall Street’s forecast of $10.98 billion. The company delivered GAAP income of $1.2 billion or $0.22 per share, and non-GAAP income of $2.2 billion or $0.40 per share. Now that’s more like it.