Cisco reports third quarter earnings

SAN JOSE, CA--(Marketwired - May 17, 2017) - Cisco (NASDAQ: CSCO)

• 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

Cisco (NASDAQ: CSCO) today reported third quarter results for the period ended April 29, 2017. Cisco reported third quarter revenue of $11.9 billion, net income on a generally accepted accounting principles (GAAP) basis of $2.5 billion or $0.50 per share, and non-GAAP net income of $3.0 billion or $0.60 per share.

"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."

View Full article