Cisco Systems (CSCO) Tops Q3 EPS by 2c, Sees Q4 Sales Down 4-6%

Cisco Systems (NASDAQ: CSCO) reported Q3 EPS of $0.60, $0.02 better than the analyst estimate of $0.58. Revenue for the quarter came in at $11.9 billion versus the consensus estimate of $11.9 billion.

• Q3 Revenue: $11.9 billion -- Decrease of (1)% year over year -- Recurring revenue was 31% of total revenue, up 2 pts year over year
• Q3 Earnings per Share: $0.50 GAAP; $0.60 non-GAAP
• Q4 FY2017 Outlook: -- Revenue: (6)% to (4)% decline year over year -- Earnings per Share: GAAP $0.46 to $0.51; Non-GAAP: $0.60 to $0.62, versus the consensus of $0.62

"I am pleased with the progress we are making on the multi-year transformation of our business," said Chuck Robbins, CEO, Cisco. "The Network is becoming even more critical to business success as our customers add billions of new connections to their enterprises. We are laser focused on delivering unparalleled value through highly secure, software-defined, automated and intelligent infrastructure."

GUIDANCE:

Cisco Systems sees Q4 2017 EPS of $0.60-$0.62, versus the consensus of $0.62. Revenue: (6)% to (4)% decline year over year.

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

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