Cisco Systems, Inc. CSCO 6.32% shares are trading higher after reporting a third-quarter earnings beat.
Adjusted earnings came in at 78 cents per share, beating estimates by a penny. Sales came in at $12.958 billion, beating estimates by $68 million.
Cisco sees sales growth of 4.5-6.5 percent year-over-year in the fourth quarter. The company sees adjusted EPS of 80-82 cents in the fourth quarter versus an 81-cent estimate.
“Our strong performance in the quarter was across the business, reflecting our customers’ confidence in our strategy, business model and market-leading portfolio,” said Chuck Robbins, chairman and CEO. “Technology is at the heart of our customers’ strategies and we are building the technology to help them achieve their business objectives.”
- Total revenue was up 6 percent
- Americas revenue was up 9 percent
- Security revenue up 21 percent
- Applications revenue was up 9 percent
Cisco’s stock traded higher by 3.3 percent at $54.16 in the after-hours session.
Cisco Systems Inc. shares were trading at $55.79 per share on Thursday morning, up $3.35 (+6.39%). Year-to-date, CSCO has gained 30.57%, versus a 16.03% rise in the benchmark S&P 500 index during the same period.
This article is brought to you courtesy of Benzinga .