Cisco Systems, Inc. (CSCO) Tops Q3 EPS by 3c
(Updated - May 14, 2014 4:10 PM EDT)
Cisco Systems, Inc. (NASDAQ: CSCO) reported Q3 EPS of $0.51, $0.03 better than the analyst estimate of $0.48. Revenue for the quarter came in at $11.5 billion versus the consensus estimate of $11.38 billion.
Adjusted net income was $2.6 billion, down 3.2 percent from $2.7 billion posted in the same period last year.
Gross margin was about 62.7 percent, versus estimates calling for 61.3 percent.
"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. 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," stated John Chambers, Cisco chairman and chief executive officer.
Cisco Systems sees Q4 adjusted EPS of $0.51 - $.53, vs. estimates of $0.51 and sees Q4 revs down 1 to 3 percent, with estimates of down 5 percent.
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