Cisco Systems, Inc. (NASDAQ: CSCO) reported its most recent quarterly results after the markets closed on Wednesday. The company said that it had $0.78 in earnings per share (EPS) and $13.0 billion in revenue, compared with consensus estimates that called for $0.77 in EPS and $12.89 billion in revenue. The fiscal third quarter from last year had $0.66 in EPS and $12.46 billion in revenue.
Total revenue increased 6% year over year, with product revenue up 7% and service revenue up 3%. Revenue by geographic segment was: Americas up 9%, EMEA up 5%, and APJC down 4%. Product revenue performance was broad based with growth in Security, up 21%, Applications, up 9%, and Infrastructure Platforms, up 5%.
Deferred revenue was $17.5 billion, down 8% in total, with deferred product revenue down 23%. Deferred service revenue was up 3%.
Looking ahead to the fiscal fourth quarter, the company expects to see EPS in the range of $0.80 to $0.82 and revenues growing in the range of 4.5% to 6.5% year over year.
Chuck Robbins, chairman and CEO of Cisco, commented:
Our strong performance in the quarter was across the business, reflecting our customers’ confidence in our strategy, business model and market-leading portfolio. Technology is at the heart of our customers’ strategies and we are building the technology to help them achieve their business objectives.
Shares of Cisco closed Wednesday at $52.44, with a 52-week range of $40.25 to $57.53. The stock has a consensus analyst price target of $56.46. Following the announcement, the stock was up about 3% at $53.89 in the after-hours session.
Sponsored: Want to Retire Early? Here’s a Great First Step
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
