Dallas, Texas 08/21/2013 (Financialstrend) – Opscode has recently joined hands with the Cisco Systems and Arista Networks aiming to append networking traits. In addition, Opscode has flourished its teamwork with software giant Microsoft with the aim to branch out Windows assimilation for its renamed Enterprise Chef podium. Opscode has added networking with the view point of increasing the management potentialities.
Increased Earnings For Cisco Systems, Inc. (NASDAQ:CSCO)
Cisco Systems, Inc. (NASDAQ:CSCO) has declared the results for the quarterly period. The consensus was estimated to about 4 cents per share which is up from the last year’s earnings of 42 cents per share.
The analyst, for the fiscal year, expected earnings of $1.83 per share. Also revenue was projected to eclipse the year earlier sum of $11.69 billion by 6% according to which the final revenue would have been $12.40 billion for the quarter.
Revenue in the last two quarters has grown. However, in the third quarter revenue witnessed an increase of 4%.Over the last four quarters income increased 37% on an average with the biggest increase coming about in the fourth quarter. In fourth quarter the income increased by 56%.
The majority of Analysts at, present, rate Cisco Inc’s stock as “strong buy”.
Cisco CEO Advocates Jobs Cut
John Chambers the CEO of Cisco System in a statement justified the company’s decision to sack 4000 employees or 5% of the workforce by saying that it is necessary step towards promoting growth of the firm.
The CEO in an interview with CNBC said that the company must execute resource reallocation over the next two quarters so as to survive and grow in the dynamic market that is moving way too fast.
Analysts at BMO Capital Markets and Wunderlich Securities have given positive ratings to the firm despite the large scale sacking of its employees. However they believe that this cautious tone by the management shall scare the investors.
BMO maintained its Outperform rating for the company and also Wunderlich retained its buy rating for the firm’s shares.