Cisco’s fiscal 2Q earnings rise above Street views

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The results for Cisco’s fiscal second quarter received a big boost from tax benefits and credits totaling $926 million, or 17 cents per share. Even without those one-time gains, the company earnings still would have been slightly better than the previous year.

Excluding the tax lift and certain accounting charges, Cisco said it earned 50 cents per share. That was 2 cents per share above the average estimate of analyst surveyed by FactSet.

Revenue edged up 5 percent to $12.1 billion, in line with analyst forecasts.

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