Wednesday Earnings Roundup: Cisco (CSCO) Halts Losing Streak

More earnings announcements rolled in on Wednesday, and Cisco Systems (Nasdaq: CSCO) was among the day’s big winners. Here’s a rundown of how some of the other big names reporting today did:

  • Cisco Systems: For the first time in five quarters, Cisco’s earnings increased year-over-year. The makers of networking equipment saw profits rise 45% from the previous year on the strength of increased usage of mobile devices and cloud computing. The company’s profit for the quarter ended January 28 was $2.18 billion, up from $1.52 billion a year ago. However, the company’s per-share earnings of 40 cents trailed the 42 cents it had projected back in November. As a result, the stock is flat in after-hours trading.
  • Time Warner (NYSE: TWX): The media conglomerate beat analyst forecasts in part due to blowout sales of the final Harry Potter film. Time owns the Warner Bros. movie studio that produced Harry Potter and the Deathly Hallows: Part 2. The movie was released on DVD and Blu-ray in November, contributing to 7% revenue growth in Time’s Warner Bros. wing. Overall, Time Warner’s sales were up 5% from a year ago. The stock got an early 2% bounce today before closing virtually flat at $38.11.
  • Groupon (Nasdaq: GRPN): The online daily deals company struggled in its first full quarter since going public in November. Groupon reported a net loss of $42.7 million, or 8 cents a share, for the quarter. Though that was a vast improvement from the $378.6 million the company lost in the same quarter a year ago, it trailed the 3-cents-a-share profit most analysts had projected. Groupon’s miss has sent the stock plummeting more than 12% in after-hours trading. Currently at $21.53 a share, the stock has nearly fallen back to its $20 IPO price.
Published by Wyatt Investment Research at