Cisco lifts annual revenue guidance after Q3 results top estimates

Investing.com -- Cisco on Wednesday upgraded its annual revenue forecast after reporting better-than-expected fiscal third-quarter results as firmer margins helped offset a dip in revenue.

Cisco Systems Inc (NASDAQ: CSCO) was up 5% in afterhours trading following the report.

For the three months ended Apr. 27, the company reported adjusted earnings of per diluted share, down from $1.00 a year earlier, on revenue of $12.7 billion, down 13% from the same period a year earlier. That, however, topped Wall Street estimates for adjusted EPS of $0.83 on revenue of $12.48B.

Gross margin rose to 65.1% from 63.4% a year earlier.

Looking ahead, the company is now forecasting revenue in a range of $53.6B to $53.8B, from $51.5B to $52.5B earlier, while full-year adjusted EPS was expected in a range of $3.69 to $3.71, compared with $3.68 to $3.74 in February.

You May Also Be Interested In

• Meta AI agent ‘Muse’ triggers massive tech rally as chips and Wall Street soar
• Microchip Technology completes acquisition of Hailo
• Bernstein SocGen Group Upgrades Engie SA (ENGI:FP) (ENGIY) to Outperform