Boston, MA 02/13/2014 (wallstreetpr) – Cisco Systems, Inc. (NASDAQ:CSCO) it appears is a stock networking technology player under pressure as its second quarter results did not meet expectations. The cause of the drop in performance happened across the segments it offers. Revenue from switches, router, SP video as well as Collaborative communications- WebEx, saw drops range from 12% to 21%. The few which did show some increase in revenue were data center for UCS serves, which saw an increase of only 10% as against the resounding 44% growth in the first quarter. Wireless revenues largely sustained by Wi-Fi also saw a drop of 4% over previous growth opportunities.
Cisco Systems, Inc. (NASDAQ:CSCO) guidance for the third quarter is as expected, but will remain a stock under great pressure. EPS offered is $0.47 to $0.49, where the consensus is 0.46. The FY 14 guidance too remained the same at $1.95 to $2.05.
Social network stock sees substantial growth
Meanwhile, Facebook Inc (NASDAQ:FB) took the war of the social networks to the financial quarters as well, making substantial earnings call in comparison to dismal collections at Twitter Inc.
Facebook Inc (NASDAQ:FB) has continued to be profitable social media stock, with revenue earnings in the past quarter reported at $2.6 billion. Twitter earnings were at $243 million, which was not bad as the growth in comparison to previous year was 116%. Per user revenue growth was reported at 66% valued at $1.01 per user. The comparative earnings indicate Facebook is definitely a higher league player.
Separately, Ocean Power Technologies, Inc. (NASDAQ:OPTT) a well-known name in energy generation for commercial use by harnessing potential in oceanic waves reported a new deal with Lockheed Martin. The value of this deal is currently at $205million and is expected to fund OPTTs venture off the cost of Victoria in Australia to begin the world’s largest wave energy project.