Cisco Systems (NASDAQ:CSCO) reported earnings results for its fiscal Q4 after the closing bell Wednesday, beating estimates on both the top and bottom lines. Earnings of 58 cents per share (accounting for stock-based compensation and other BNRI) topped the 55 cents in the Zacks consensus, whereas sales of $12.64 billion improved on the $12.54 billion expected.
However, we are seeing CSCO shares trading lower a tad in the after market following the earnings report. This comes after a down trading day today to the tune of about -1.3%. Total gross margins for the quarter reached 64.6%, and guidance for Q1 is between -1% and +1%. Cisco also announced a restructuring that will eliminate up to 5500 jobs.
Prior to the earnings report, Cisco carried a Zacks Rank #3 (Hold), with a Value-Growth-Momentum combined grade of C. Cisco is in the top 14% of industries, and shares have risen 3% in the past month, +13.13% year to date. For more information on Cisco's earnings, click here.
L Brands (NYSE:L) , the retail conglomerate that owns Victoria's Secret and Bath & Body Works, among other companies, beat estimates on the bottom line (70 cents per share versus 49 cents) on modestly lower revenues. Guidance for Q3 came in a little below estimates at a range of 40-45 cents per share. Shares were trading up 2% around the time of the announcement.
Here's a podcast by Tracey Ryniec and Maddy Johnson discussing L Brands recently:
NetApp (NASDAQ:NTAP) is trading up higher than 5% in the late market on a big earnings beat of 46 cents per share (36 cents had been expected). Revenues of $1.29 billion more modestly beat the Zacks consensus of $1.26 billion. The network storage firm has enjoyed a great calendar 2016 so far, up 14% year-to-date prior to the latest earnings release.
CISCO SYSTEMS (CSCO): Free Stock Analysis Report
NETAPP INC (NTAP): Free Stock Analysis Report
LOEWS CORP (L): Free Stock Analysis Report
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