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Cisco Gives Bullish Outlook, Boosts Buyback by $25 Billion - http://earlyretireonline.com | how to earn money fast

February 14, 2018 10:24 pm
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Cisco Systems Inc., which makes machinery that carries most of the world’s internet data, gave a bullish forecast for sales and profit, indicating companies are spending to upgrade their computer infrastructure.

Chief Executive Officer Chuck Robbins is trying to reshape Cisco, lowering its reliance on the shrinking market for high-priced hardware through acquisitions that boost its ability to offer software and services that help customers manage and protect networks. Demand for switches and routers may be rising as corporations upgrade older equipment.

“It’s been a long time coming,” said Simon Leopold, an analyst at Raymond James & Associates. “A lot of the legacy footprint is out of date. You can only hold your breath for so long.”

Revenue in the current period will climb as much as 5 percent from a year earlier, the San Jose, California-based company said Wednesday in a statement. That indicates sales as high as $12.5 billion, compared with an average analyst estimate of $12.1 billion. Adjusted profit in the quarter ending in April will be as much as 66 cents a share, the company said. Analysts projected 63 cents.

 
 

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