Cisco’s quarterly financial report might look weak to some, but the networking giant’s performance still beat the expectations of Wall Street analysts who expected a worse performance.
As financial news website TheStreet noted, Cisco (Nasdaq: CSCO) topped expectations on:
- Earnings at 51 cents per share vs. the forecast 48 cents
- $11.5 billion in revenue, which was higher than the $11.38 billion expected
However, revenue was down from $12.2 billion a year ago, and net income dipped slightly to $2.6 billion from $2.7 billion.
Trading in Cisco shares was heavy in after-hours trading with share prices up slightly.
“I’m pleased with our performance in Q3. Our financial results exceeded the guidance we provided last quarter as we demonstrated clear progress on returning to growth,” said Cisco Chairman and CEO John Chambers,
“The entire team is focused on moving Cisco forward aggressively and we remain confident in our long-term goal to be the #1 IT company,” he added.
The entire earnings report can be read online.
Cisco operates one of its largest corporate campuses in RTP.
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