Living up to the Saint Valentine’s Day, Cisco, reported a rosy outlook on February 14th, beating the Midtown Manhattan pundits by 4 cents per share, that’s if your are keeping tabs per to Thompson Reuters. The Revenue was on target of nearly $8 million between the predicted $11.81 billion vs $11.89 billion a quarter.
While it’s not the 2000s, they are growing at 3 percent, at least they gave up their streaks of year over year revenue declines, and the new reigns since Chuck Robbins took over a CEO.
Cisco took a $11.1 billion charge because of the change of the tax reform. Cisco is allegedly bringing back $67 billion from overseas and $57 billion post taxes, but Cisco tends to burn excess cash.
Making things more rosey to make the Midtown pundits swoon, Robbins touted the Catalyst 9000 switching to be the fastest ramping product in Cisco’s history, citing no shortages or supply issues in the quarter.