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5 Thursday, May 16, 2019 01:34

Cisco slightly beats Q3 expectations

Cisco published its third quarter financial report on Wednesday, slightly beatig market expectations. The company posted a non-GAAP earnings of 78 cents per share on revenue of $13 billion, a 6 percent year-over-year increase. Analysts were expecting earnings of 77 cents per share on revenue of $12.89 billion.

Product revenue was up 7 percent to $9.72 billion, and service revenue was up 3 percent to $3.24 billion. Product revenue includes sales from infrastructure platforms, which grew 5 percent to $7.55 billion for the quarter. Sales of security products grew 21 percent to $707 million, and sales of applications grew 9 percent to $1.

43 billion. By geographic segments, revenue in the Americas grew by 9 percent, in EMEA by 5 percent, and in APJC revenue was down 4 percent. Our strong performance in the quarter was across the business, reflecting our customers confidence in our strategy, business model and market-leading portfolio, CEO Chuck Robbins said in a statement.

Technology is at the heart of our customers strategies and we are building the technology to help them achieve their business objectives.In Q3, Cisco closed the acquisitions of Luxtera, a privately held semiconductor company, and Singularity Networks, a privately held network infrastructure analytics company.

For the fourth quarter, the company is predicting non-GAAP earnings between 80 cents and 82 cents with year-over-year revenue growth between 4.5 percent and 6.5 percent.  Tech Earnings Arista shares slide on weak Q2 revenue guidance Tableau reports mixed Q1 results Googles Q1 means cloud revenue run rate still AWOL Twilio reports strong Q1 results as it digest SendGrid Apple Q2 beats estimates on record high services revenue Qualcomm expects up to $4.

7 billion in Q3 revenue from its Apple settlement Square Q1 tops estimates, losses widen Seagate Q3 mixed as hard-disk drive sales decline Stratasys Q1 above target as company.

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News Code: 168586  |  ZDNet
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