Cisco Reports Earnings Above Estimates -We Did Well 'Despite Challenging Environment' - Cisco Systems (NASDAQ:CSCO)

Cisco Systems (NASDAQ: CSCO) reported FY2016Q3 earnings today with an EPS of $0.57 vs. estimates of $0.55 and sales of $12.00 billion vs. estimates of $11.97 billion. The company also released positive guidance expecting FY16Q4 adjusted EPS at a range of $0.59-$0.61 vs. estimates of $0.58 with sales growth projected at 0-3%."We delivered a strong Q3, executing well despite the challenging environment," said Chuck Robbins, Cisco chief executive officer. Robbins was pleased with Cisco's transition into a more software and subscription focus "which we'll continue to apply across our entire portfolio" said the Cisco CEO. Additionally, Cisco's acquisitions and installments in areas such as security, cloud, and software were pointed out as "key growth areas" for the company's future. Third quarter of fiscal 2016 acquisitions include:

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Jasper Technologies – Cloud services provider.
Acano – Cloud based video infrastructure and collaboration software.
Synata – Aids with delivery of cloud collaboration capabilities.
Leaba – Semiconductor company who will help "accelerate Cisco's next generation product portfolio and bring new capabilities to the market faster."
CliQr – Provides cloud organizational platforms that "expect to help Cisco customers simplify and accelerate their… cloud deployments."

In summary, the company reported that Quarter 3 was a "solid quarter driven by strong execution; continued strong margins and momentum in growth areas." At the time of writing, Cisco was trading up 5.24% in the afterhours session in response to posting earnings.