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Cisco raises dividend 24% after strong Q2
2016-02-11 08:14:00| Telecompaper Headlines
(Telecompaper) Cisco reported revenue for its fiscal second quarter to 23 January up 2 percent year-on-year to USD 11.8 billion. The results exclude its set-top box business sold to Technicolor and were at the high end of Cisco's forecast for flat to 2 percent higher sales in the quarter. The company's net profit jumped 31 percent to USD 3.1 billion, and adjusted EPS increased 8 percent to USD 0.57. Cisco CEO Chuck Robbins said the strong Q2 results were down to "managing the business extremely well in a challenging macro environment". The company also announced a 24 percent increase in its quarterly dividend to USD 0.26 per share and approval for a USD 15 billion increase in the share buyback programme, for a total USD 16.9 billion. For the third quarter, Cisco forecast 1-4 percent growth in revenues, excluding the set-top box business, and adjusted EPS of USD 0.54-0.56.
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Category:Telecommunications