By Aled Herbert, 4 October 2001 08:15
NEWS Shares in Cisco surged 25 per cent on Wednesday after CEO John Chambers said he was "very comfortable" with analysts' forecasts for the first quarter. Cisco stock rose $2.88 to $14.36 in heavy trading following the statement. At close of trade the stock had settled back slightly to $13.95. Analysts said they expect the company to earn two cents a share in Q1, with a range of loss of between one per cent per share up to a profit of three cents a share. Revenues for the quarter are expected to be $4.16bn, with a range of $4bn and $4.3bn. Chambers said company revenues had not been significantly affected by the terror attacks of 11 September and added that orders had been "remarkably linear" for the quarter. He denied to offer predictions for the full fiscal year, citing market instability.
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