FILE PHOTO: The logo of U.S. networks giant Cisco Systems is seen at their headquarters in Issy-les-Moulineaux, near Paris, France, April 3, 2018. REUTERS/Philippe Wojazer/File Photo
(Reuters) – Cisco Systems Inc reported second-quarter revenue that beat Wall Street estimates on Wednesday, as the network gear maker benefited from its shift to newer businesses such as application software and cyber security.
The company reported net income of $2.8 billion, or 63 cents per share, in its quarter ended Jan. 26, compared with a loss of $8.78 billion, or $1.78 per share, a year earlier, when it took a charge of $11.1 billion related to the new U.S. tax laws.
Total revenue rose 4.7 percent to $12.45 billion. Analysts on average had expected revenue of $12.41 billion, according to IBES data from Refinitiv.
(This story corrects revenue figure to $12.45 billion and estimates to $12.41 billion in paragraph 3)
Reporting by Arjun Panchadar in Bengaluru; Editing by Anil D’Silva