Cisco Systems (Nasdaq:CSCO) posted higher Q2 net income of 25 percent to 1.9 billion, or $0.31 per share, from $1.5 billion year-over-year. On a non-GAAP basis, profits gained 21.2 percent to $2.3 billion from $1.9 billion. Net sales were up as well, rising 18.1 percent to $9.4 billion in Q2 from $8 billion in Q206. Other highlights from Cisco’s Q2 results were:
— Cash flows from operations were $2.7 billion in Q2, compared with $2.3 billion a year ago, a rise of 17.4 percent, and an increase of 12.5 percent from Q1 cash flows of $2.4 billion.
— Also during Q2, Cisco repurchased 54 million shares of common stock at an average price of $27.33 per share. The company identified that as an aggregate purchase price of $1.5 billion. Cisco also unveiled plans to invest $150 million to purchase an equity stake in virtualization software provider VMware. Among the new services Cisco noted during Q2, was the addition of streaming media capabilities to its Content Delivery System. Earnings release | Webcast (4:30 p.m. EDT)
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