After the markets closed Wednesday, Cisco Systems Inc. (NASDAQ: CSCO) reported its second-quarter financial results as $0.53 in earnings per share (EPS) and $11.90 billion in revenue. This is against Thomson Reuters consensus estimates of $0.51 in EPS and $11.80 billion in revenue. The second quarter from the previous year had $0.47 in EPS and $11.16 billion in revenue.

There was no guidance for the third quarter or the full year given in physical the earnings report, but John Chambers and his team usually offer guidance in the conference calls after each earnings report.

The board of directors declared a quarterly dividend of $0.21 per common share, which was a two-cent increase over the previous quarter’s dividend. It will be paid on April 22, 2015. Overall, the company returned $2.2 billion to shareholders in the second fiscal quarter and it remains committed to returning at least 50% of free cash flow annually.

Cash and cash equivalents and investments were $53.0 billion at the end of the second fiscal quarter of 2015.

In this period, the company repurchased roughly 44 million shares of common stock under its stock repurchase program at an average price of $27.63 per share for an aggregate purchase price of $1.2 billion.

In terms of the Internet of Everything (IoE), the Metropolitan Regional Government of Santiago signed a collaboration agreement with Cisco Chile with the aim to turn Santiago into a “Smart City.” Also Cisco announced the opening of a new IoE Innovation Center in Tokyo.

John Chambers, Chairman and CEO of Cisco, said:

Our Q2 results reflect continued progress as we transform Cisco to become the #1 IT company. In the quarter we grew revenues by 7%, with strong EPS growth, and saw the best balance of growth across all our geographies, products, and segments. We delivered this strong performance despite a volatile economic environment.

So far in February, Cisco has received couple key analyst calls. Deutsche Bank reiterated a rating of Buy with a price target of $32, implying an upside of 16% from Tuesday’s close $27.49. Oppenheimer had an Outperform rating for Cisco and lifted its price target to $29 from $27, implying an upside of 5.5%.

Shares of Cisco closed Wednesday down 2% at $26.93. In after-hours trading, shares were up 1% at $27.30. The stock has a consensus analyst price target of $28.63 and a 52-week trading range of $21.27 to $28.70.

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