Cisco Systems Inc (NASDAQ: CSCO) stock is down 6% in post-market as the company beats by $0.01, beats on revs; guides JulQ EPS below consensus, revs above consensus.
Reports Q3 (Apr) earnings of $0.83 per share, excluding non-recurring items, $0.01 better than the S&P Capital IQ Consensus of $0.82; revenues rose 6.8% year/year to $12.8 bln vs the $12.57 bln S&P Capital IQ Consensus.
Product revenue up 6% and service revenue up 8%. Revenue by geographic segment was: Americas up 2%, EMEA up 11%, and APJC up 19%. Product revenue performance was broad-based with growth in Security, up 13%, Infrastructure Platforms up 6%, and Applications up 5%. Non-GAAP operating margin was 33.6% vs prior guidance 33-34%.
“Cisco had a great quarter with strong demand across the business…We are confident in our strategy and our ability to lead the next phase of the recovery as our customers accelerate their adoption of hybrid work, digital transformation, cloud, and continued strong uptake of our subscription-based offerings.”
Co issues mixed guidance for Q4 (Jul), sees EPS of $0.81-0.83, excluding non-recurring items, vs. $0.85 S&P Capital IQ Consensus; sees Q4 yr/yr revenue growth of +6-8%, which we compute as $12.88-13.13 bln vs. $12.82 bln S&P Capital IQ Consensus.
Co guides to Q4 non-GAAP operating margin of 32-33%.
CSCO is down 6% at $49.32
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