Here is part of my Internet Telephony Magazine
Publisher's Outlook December 2006:
Certainly the biggest news in recent months is that Cisco Systems, the world’s biggest vendor of computer-networking equipment, reported first-quarter 2007 net sales of $8.2 billion (exceeding analyst predictions, which ranged from $7.9 billion to about $8.05 billion) and net income of $1.61 billion (up 28% from last year). In a public statement, Cisco’s CEO John Chambers boasted that the company “achieved, once again, record revenue of approximately $8.2 billion, a 25 percent year-over-year increase and a Cisco standalone increase of approximately 16 percent, which was above our standalone guidance of 11 to 13 percent,” adding, “This is the fastest standalone year-over-year revenue growth rate we have seen in several years.”
After the news appeared, investors jumped into the market, sending Cisco shares surging 7% to a new 52-week high of $27.44. The stock closed that day with a 6% gain, at $26.71 on the Nasdaq. Analysts everywhere either immediately upgraded their rating on the stock to “buy” or else increased their price targets.
The Associated Press quoted Ittai Kidron, an analyst with CIBC: “Few businesses Cisco’s size can claim to have achieved what it did in [the quarter] — outperformance in nearly every product line.