Cisco Systems Q3 Earnings Top Analyst Forecasts, Shares Slide: The Details

Cisco Systems Inc CSCO shares are volatile in extended trading Wednesday after the company reported fiscal third-quarter results.

  • Q3 Revenue: $14.57 billion beat estimates of $14.39 billion
  • Q3 EPS: $1.00 beat estimates of 97 cents

Revenues were up 14% year-over-year. Adjusted earnings were up 15% year-over-year. Operating cash flow was up 43% to $5.2 billion. 

Cisco ended the quarter with $23.3 billion in cash, equivalents and investments. The company also declared a quarterly dividend of 39 cents per share. 

"We once again delivered a strong quarter in a dynamic environment," said Chuck Robbins, chair and CEO of Cisco.

"As key technologies like cloud, AI and security continue to scale, Cisco's long-established leadership in networking, and the breadth of our portfolio position us well for the future."

Outlook: Cisco expects fiscal fourth-quarter revenue to be between $1.05 and $1.07 per share versus estimates of $1.04 per share. The company sees full-year earnings between $3.80 and $3.82 per share versus estimates of $3.75 per share. 

The company anticipates fourth-quarter revenue growth of 14% to 16%. Full-year revenue is expected to grow 10% to 10.5%.

See Also: Why Take-Two Stock Is Taking Off After Hours

CSCO Price Action: Cisco shares were down 2.17% after hours at $46.61 at the time of publication, according to Benzinga Pro.

Photo:  from Flickr.

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