The stock of Cisco Systems Inc (CSCO) closed the recent trading session at $54.25. The stock price kept moving between $53.47 and $54.40. During the last check, the stock of CSCO gained 3.50% to $56.15, in the after-market. Cisco released the results for its second fiscal quarter of the fiscal year 2022. The company also filed for form 8-K with the SEC. The form refers to the reporting of quarterly earnings.
CSCO Financials
On February 16, 2022, Cisco Inc announced the financial results for the second quarter of the fiscal year 2022. The key highlights of the financial results are
- The revenue increased from $11.9 billion in the second quarter of FY21 to $12.7 billion in Q2 of FY22.
- Net income of the company was $2.9 billion in Q2 of the fiscal year 2022 against $2.5 billion in Q2 of FY21.
- Diluted earnings per share were reported to be $0.71 in the second quarter of FY22 versus $0.60 in Q2 of FY21.
- Operating expense of the company was $3.9 billion in Q4 of FY22 as compared to $3.8 billion in the same quarter last year.
Cisco Inc repurchased 82 million shares of the company, worth $4.8 billion. Furthermore, CSCO also paid $1.51 billion in dividends. As a result, the total capital allocation of the company during Q2 of FY22 was $6.3 billion.
CEO Remarks
The CEO of Cisco Inc, Chuck Robbins, said that they keep on seeing amazingly impressive demand across their portfolio, stressing the criticality and significance of Cisco’s transformation. He added that their powerful order strength, backlog, and double-digit growth in annual income, positions them well to deliver growth.
About CSCO
Cisco is a global tech company that develops, manufactures, and sells networking equipment, software, broadcast gear, and other high-tech products and services. These products are fundamental to the development of Silicon Valley. The company has its headquarter in San Jose, California, United States of America (USA).
