Shares of the telecom gear maker, which additionally mentioned Scott Herren will succeed Kelly Kramer as chief monetary officer beginning Dec. 18, surged almost 9% in prolonged buying and selling.
After the coronavirus-driven lockdowns began earlier this 12 months, demand for the corporate’s videoconferencing platform Webex, digital non-public community AnyConnect and cybersecurity merchandise surged as workplaces remained shut with extra folks working remotely.
The corporate’s income fell 9% to $11.93 billion within the quarter ended Oct. 24.
The autumn was slowed by the energy in its companies section, serving to it beat analysts’ estimates of $11.85 billion, in accordance with IBES knowledge from Refinitiv.
Excluding objects, Cisco earned 76 cents per share whereas analysts anticipated revenue of 70 cents per share.