Cisco sees quarterly profit rise as turnaround works
 

Software better than hardware

Cisco Systems reported its first rise in quarterly revenue in more than two years and forecast upbeat current quarter profit, as the network gear maker’s years long efforts to transform into a software focused company appears to be paying off.

Cisco posted a net loss of $8.8 billion, or $1.78 per share, in the second quarter ended January 27, compared with a profit of $2.3 billion, or 47 cents per share, a year earlier. Some of this is due to its plans to bring back $67 billion of funds held overseas in the third quarter of fiscal 2018 by taking advantage of the recent changes to the US tax laws which means that it has to shell out for an $11.1 billion one-off tax bill.

http://fudzilla.com/news/45614-cisco...rnaround-works