After the closing bell on Wednesday, Cisco (CSCO) released its second quarter financial results. Here’s what the results mean for mutual fund investors.
Inside CSCO's Results
The company reported earnings of $2.4 billion, or 46 cents per share, up from $1.4 billion, or 27 cents per share, last year. Excluding special items, earnings were 53 cents per share – above analysts’ view of 51 cents.
Revenue increased to $11.94 billion from $11.16 billion last year. Analysts expected to see $11.80 billion in revenue.
Best Earnings Report in Years
Cisco released its best quarterly report in years on Wednesday afternoon, sending shares up 8% on Thursday morning. The company is positioning to become the main player in the “internet of things” world.
The company also announced a 10% increase to its quarterly dividend and now offers a dividend yield close to 3%. This stock may be a good choice for investors seeking a combination of income and growth.
Mutual Funds to Watch
Investors interested in CSCO may be interested in the funds listed below. These funds currently have the largest stakes in the company.
|VTSMX||Vanguard Total Stock Market Index||1.68%|
The Bottom Line
The funds listed above allow investors to gain exposure to CSCO while remaining diversified. Investors interested in CSCO may also be interested in Microsoft (MSFT) or International Business Machines (IBM).