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ForexTV NewsDesk | February 8 2012 5:39 EST
ForexTV.com (New York) by Chikako Shitani
Giant networking maker Cisco Systems Inc. (CSCO) reported quarterly earnings and revenue surprised analysts' expectations Wednesday and announced plans to raise and its dividend.
Fiscal second quarter net income rose to $2.18 billion, or 40 cents a share, from $1.52 billion, or 27 cents, a year earlier, the Sothern, California-based company said today in a statement.
Revenue was $11.5 billion, a 11-percent increase from $10.41 billion a year ago which ended Jan. 28. Analysts had estimated 43 cents in profit and $11.23 billion in revenue.
Cisco said today its plan to pay a quarterly dividend of $0.08 per common share, up 2 cents from the previous quarter.
Chief Executive John Chambers also said in a statement "Our operational focus continues to yield positive results - we hit our billion dollar expense reduction a quarter early"
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