Cisco Reports Earnings: It's A Beat
It reported
Q3 Revenue: of $11.5 billion and Q3 Earnings per Share of $0.51 non-GAAP and $0.42 EPS GAAP.
Analysts were expecting 48 cents EPS on revenue of about $11.4 billion. That represented a nearly 7% decline in revenue over the year ago quarter.
So that's a beat.
CEO John Chambers warned investors in February that sales for this quarter would come in 6-8% below the year-ago quarter. Chambers likes to warn of a worst-case and then beat that warning.
Cisco's guidance for next quarter is revenue $11.36 billion, non-GAAP EPS of 48 cents.
Analysts were also looking for guidance of 51 cents EPS on $11.7 billion for the next quarter. That's another 5% dip in revenue year-over-year, too.
The full press release can be found here.
| GAAP Results | |||||||||||
| Q3 2014 | Q3 2013 | Vs. Q3 2013 | |||||||||
| Revenue | $ | 11.5 | billion | $ | 12.2 | billion | (5.5 | )% | |||
| Net Income | $ | 2.2 | billion | $ | 2.5 | billion | (12.0 | )% | |||
| Earnings per Share | $ | 0.42 | $ | 0.46 | (8.7 | )% | |||||
| Non-GAAP Results | |||||||||||
| Q3 2014 | Q3 2013 | Vs. Q3 2013 | |||||||||
| Net Income | $ | 2.6 | billion | $ | 2.7 | billion | (3.2 | )% | |||
| Earnings per Share | $ | 0.51 | $ | 0.51 | -- | % |