Cisco Systems (CSCO) beats Q3 earnings expectations

NASDAQ: CSCO | Cisco Systems, Inc. News, Ratings, and Charts

CSCO – Adjusted earnings came in at 78 cents per share, beating estimates by a penny.

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.”

Highlights

  • 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.

CSCO currently has a StockNews.com POWR Rating of B (Buy), and is ranked #6 of 53 stocks in the Technology – Communication/Networking category.


This article is brought to you courtesy of Benzinga .

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