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Cisco quarterly revenue beats estimates

FILE PHOTO: The logo of the AMERICAN networking giant Cisco Systems is seen at their headquarters in Issy-les-Moulineaux, near Paris, France, April 3, 2018. REUTERS/Philippe Wojazer/File Photo

(Reuters) – Cisco Systems Inc reported second-quarter revenue that beat Wall Street estimates on Wednesday, as the network gear maker benefited from the shift to new companies, such as software and cyber security.

The company reported net income of $2.8 billion, or 63 cents per share in the quarter that ended Jan. 26, compared with a loss of $8.78 billion, or $1.78 per share, a year earlier, when it took a charge of $11.1 billion related to the new U.S. tax legislation.

The total turnover rose by 4.7 percent to $12.45 billion. Analysts on average had expected revenue of $12.41 billion, according to the IBES data of Refinitiv.

(This story corrects revenue figure of $12.45 billion and estimates of $12.41 billion in (3)

Reporting by Arjuna Panchadar in Bengaluru; Editing by Anil D’silva

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