Cisco posted net sales of $10.9 billion a 5% increase year over year. Earnings per share were 42 cents. This was better than the forecast of 35 to 38 cents. Earlier on in the day many analysts were expecting Cisco to miss their earnings. CEO John Chambers has thus far done well in restructuring Cisco. Yesterday, shares were up over 1% on news that Cisco hired David Yen a previous executive of Juniper, one of Cisco's main competitors. David Yen specializes in the server access and virtualization technology group. Cisco has not turned around yet, the company needs to continue to take effective steps in the near future. Shares jumped over 4% after hours but quickly fell to negative as the conference call discussed negative effects on margins and a plan for global workforce reductions of full-time and contract workers.
-Simeon Kawakami
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