RealTime IT News

Cisco Beats Estimates

Shares of Cisco Systems jumped 5% after hours Wednesday after the networking giant beat earnings and revenue estimates.

Earnings of 17 cents a share beat estimates by two cents, and revenues of $5.1 billion topped $4.85 billion forecasts.

"We saw strength across our core switching and routing businesses, as well as traction in our advanced technologies," CEO John Chambers said in a statement. "The service provider and public sector segments in particular continue to be solid markets for our products."

Also after the close, Qualcomm beat revenue estimates and raised guidance, and Netopia and Corvis also beat expectations.

Stocks were mixed during the day ahead of Cisco's results.

The Nasdaq rose 1 to 1959, the S&P 500 slipped 1 to 1051, and the Dow lost 18 to 9820. Volume declined to 1.36 billion shares on the NYSE, and 2 billion on the Nasdaq. Advancers led 16-15 on the NYSE, and by a few issues on the Nasdaq. Upside volume was 51% on the NYSE, and 53% on the Nasdaq. New highs-new lows were 276-9 on the NYSE, and 312-9 on the Nasdaq.

Priceline plunged 26% after missing revenue estimates and warning, and InterActiveCorp fell 8% on its results.

Symbol Tech rocketed 16% on its results, and National Semi rose 4% after raising guidance.

Internet Initiative Japan surged 18% on news that the company will retain its Nasdaq listing.

And Microsoft issued a bounty on virus perpetrators.

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