FX.co ★ Cisco Systems Inc. Q3 Profit Decreases, But Beats Estimates

Cisco Systems Inc. (CSCO) has reported a decline in profit for the third quarter compared to the same period last year, although the results surpassed Wall Street expectations.

The company's net income for the quarter amounted to $1.89 billion, or $0.46 per share, as opposed to $3.21 billion, or $0.78 per share, in the third quarter of the previous year.

When excluding special items, Cisco posted adjusted earnings of $3.55 billion or $0.88 per share for the quarter.

According to data compiled by Thomson Reuters, analysts had anticipated earnings of $0.82 per share on average. These estimates generally exclude special items.

Revenue for the quarter decreased by 12.8%, falling to $12.70 billion from $14.57 billion in the prior year.

Here is a summary of Cisco's earnings (GAAP) for the third quarter:

- Earnings: $1.89 billion vs. $3.21 billion last year

- Earnings per Share (EPS): $0.46 vs. $0.78 last year

- Revenue: $12.70 billion vs. $14.57 billion last year

### Guidance

- Next Quarter EPS: $0.84 to $0.86

- Next Quarter Revenue: $13.4 to $13.6 billion

- Full Year EPS: $3.69 to $3.71

- Full Year Revenue: $53.6 to $53.8 billion