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Cisco Reports Second Quarter Earnings

Cisco

Cisco reported its second quarter results for the period ended January 24, 2015. The company reported second quarter revenue of $11.9 billion, and net income of $2.4 billion or 46 cents per share. Revenue for the first six months of fiscal 2015 was $24.2 billion, compared with $23.2 billion for the first six months of fiscal 2014. Net income for the first six months of fiscal 2015, was $4.2 billion or 82 cents per share, compared with $3.4 billion or 64 cents per share for the first six months of fiscal 2014.

John Chambers (Chairman and CEO, Cisco): Our Q2 results reflect continued progress as we transform Cisco to become the #1 IT company.

Other Financial Highlights

  • Cash flows from operations were $2.9 billion for the second quarter of fiscal 2015, compared with $2.5 billion for the first quarter of fiscal 2015, and compared with $2.9 billion for the second quarter of fiscal 2014.
  • Cash and cash equivalents and investments were $53.0 billion at the end of the second quarter of fiscal 2015, compared with $52.1 billion at the end of the first quarter of fiscal 2015, and compared with $52.1 billion at the end of the fourth quarter of fiscal 2014.
  • During the second quarter of fiscal 2015, Cisco paid a cash dividend of 19 cents per common share, or $974 million.

Cisco repurchased approximately 44 million shares of common stock under the stock repurchase program at an average price of $27.63 per share for an aggregate purchase price of $1.2 billion during the second quarter of fiscal 2015. As of January 24, 2015, Cisco had repurchased and retired 4.4 billion shares of Cisco common stock at an average price of $20.73 per share for an aggregate purchase price of approximately $90.7 billion since the inception of the stock repurchase program. The remaining authorized amount for stock repurchases under this program is approximately $6.3 billion with no termination date.

Dividend

Cisco declared a quarterly dividend of 21 cents per common share, a two-cent increase over the previous quarter’s dividend, to be paid on April 22, 2015 to all shareholders of record as of the close of business on April 2, 2015.

[Image courtesy: Cisco]

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