Earnings Roundup: Infinera, Akamai, Cisco

February 12th, 2016 by · Leave a Comment

Earnings activity was steady this week, here's a quick look at the results of a few of the companies that reported.

Infinera posted its Q4 results yesterday after the markets closed. Revenues of $260M and earnings per share of $0.21 each came in slightly above expectations. Guidance for Q2 of $240-250M and adjusted EPS of $0.15-0.19 was pretty much in synch with analysts.  The early response from traders was to pull back, but after the conference call the needle seems to have swung back the other way.

Akamai threw its investors the sort of party they like to have this week. Fourth quarter revenue of $579M and non-GAAP earnings of $0.72 were $10M and $0.10 above analyst expectations, respectively. Of particular note was the strength of the company's security business, which brought in $286M in revenue, up 16.4% with cloud security itself up a more-than-healthy 46%. Akamai also unveiled a $1B stock buyback plan. The markets liked what they saw, and in the next two days the stock has surged some 24%.

And in one of the first reports to talk about how things actually went in a worrisome January, Cisco found a little joy to send investors. While they saw signs of a weakening macro environment, Cisco nevertheless offered some fairly optimistic guidance, including sales growth of 4% over the prior period. Cisco turned in adjusted earnings per share of $0.57, three pennies ahead of expectations, on revenues of $11.93B, ahead of $11.75B that analysts had been looking for. They also announced the authorization of another $15B in stock going forward, and that they spent $1.3B on that front during the quarter. The stock surged almost 10% on Thursday in response.

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