Cisco Beats on Revenue and Earnings

I think the drop off in computer spending is not as bad as some analysts feared. At least routers and switches still seem kind of popular. Also Cisco was able to cut costs to $3.6 billion from $4.1 billion which means they are cutting some of the fat of previous years.

The computer networking giant said it earned 30 cents a share in its fiscal third quarter, compared with a per-share profit of 38 cents a share in the same period last year.

Analsyts polled by Thomson Reuters predicted that Cisco would earn 25 cents a share in the last quarter on sales of $8.072 billion, on average.

Revenue in the most recent quarter reached $8.16 billion for Cisco, against $9.791 billion last year.