(Updated - May 13, 2015 4:07 PM EDT)

Cisco Systems (NASDAQ: CSCO) reported Q3 EPS of $0.54, $0.01 better than the analyst estimate of $0.53. Revenue was $12.1 billion, versus the consensus of $12.07 billion.

"Cisco is in a very strong position and we delivered another solid quarter. Our vision and strategy are working and we are executing very well in a tough environment, as evidenced in our revenue growth, profitability, strong gross margins and cash generation. Our customers feel the pace of change and disruption in every industry and market, and know their success depends on digitizing their business. Whether they are the disruptor or the incumbent, they are coming to Cisco as their strategic partner. We believe we are pulling away from our competition using the same formula we've always used: integrating our industry-leading products in every category into architectures and solutions that deliver real outcomes. We've created this opportunity and it is ours to execute," stated John Chambers, Cisco chairman and CEO.

"I am extremely honored and proud to have led Cisco for the last 20 years and to get us to this positive inflection point. We have a tremendous opportunity to extend our lead in the industry, and with Chuck Robbins as the CEO for Cisco's next chapter, we have exactly the right leader to capture that opportunity. I could not be more confident in our future."

For earnings history and earnings-related data on Cisco Systems (CSCO) click here.