Cisco Systems, one of the region’s biggest employers, saw its stock close today at its highest point since February, a sign that CEO John Chambers' reorganization of the company is impressing investors.
This latest bump came after the company reported solid first-quarter earnings Wednesday.
Net sales for the three months that ended Oct. 29 were $11.3 billion, up from $10.75 billion the prior year. Minus one-time charges, net income was $2.3 billion, or 43 cents per share, compared to $2.4 billion, or 42 cents per share, a year ago.
That beat the consensus among analysts who cover the company of 39 cents per share.