Cisco hits record quarterly revenue

09.05.2012

Services revenue was $2.5 billion for the quarter, up 13 percent year-over-year.

Analysts have been upbeat on Cisco recently. Last quarter the company hit its $1 billion target for its expense-reduction plan, which originally was not set to be attained until the next quarter.

Revenue edged out the $11.57 billion forecast by analysts surveyed by Thomson Reuters. Excluding certain one-time charges, earnings per share of $0.48 were slightly higher than analysts' forecast for EPS of $0.47.