Cisco FY Q3 Revenue "Outstanding"
Cisco Systems (CSCO) reported better-than-expected results for its fiscal third quarter ended May 1.
For the quarter, the company reported revenue or $10.4 billion, up 27 percent from a year ago, and ahead of the Street at $10.24 billion. Non-GAAP profits of 42 cents a share were ahead of the Street at 39 cents. Revenue had been for 23-26 percent growth year-over-year.
Update: The company on the post-earnings conference call said it sees 25-28 percent growth on a year-over-year basis for FY Q4, including the acquisitions of Tandberg.
Cash flow from operations was $3 billion, up 49 percent from a year ago.
GAAP gross margin was 63.9 percent, down slightly from 64.1 percent a year ago.
In a statement, Cisco CEO John Chambers said that the results were “outstanding,” with record revenue and EPS.