Network gear maker Cisco Systems, Inc. (NASDAQ: CSCO) on Wednesday announced financial results for the fourth quarter of fiscal 2020, reporting a decline in earnings and revenues. However, the numbers topped expectations.
Adjusted earnings decreased to $0.80 per share from $0.83 per share last year. It was much better compared to analysts’ estimates. Net income, meanwhile, rose 19% year-over-year to $2.6 billion or $0.62 per share.
At $12.2 billion, revenues were down 9% from the fourth quarter of 2019, but slightly above the consensus forecast.
The stock declined immediately after the announcement, after closing the regular session higher. Currently, the shares are trading close to the levels seen at the beginning of the year.
The Kraft Heinz Company (NASDAQ: KHC) reported second-quarter 2021 financial results before the regular market hours on Wednesday. The food company reported Q2 revenue of $6.62 billion, down 0.5% year-over-year
General Motors Co. (NYSE: GM) reported second quarter 2021 earnings results today. Total revenue rose to $34.2 billion from $16.8 billion in the same period last year. GAAP net income
VS Health Corporation (NYSE: CVS) reported second-quarter 2021 earnings results today. Total revenues increased 11.1% to $72.6 billion compared to the same period last year, driven by growth across all