Cisco (CSCO) Q3 Earnings Beat, Shares Fall On Dim View
Zacks Investment Research | May 17, 2017 10:00PM ET
Cisco Systems Inc. (NASDAQ:CSCO) reported third-quarter fiscal 2017 earnings (including stock-based compensation) of 54 cents per share, beating the Zacks Consensus Estimate by a penny.
Excluding stock-based compensation, earnings increased 5.3% on a year-over-year basis to 60 cents, which was slightly better than management’s guided range of 57–59 cents. The growth reflected benefits from operational efficiencies that boost operating margin in the quarter.
Revenues declined 0.5% year over year to $11.94 billion but beat the Zacks Consensus Estimate of $11.89 billion. Management had anticipated revenues to decline in the range of 2% or remain flat on a year-over-year basis.
However, Cisco’s fourth-quarter outlook was disappointing. Revenues are anticipated to decline primarily due to lower order growth in the reported quarter, which affected backlog. Management anticipates order growth to remain weak in the fourth-quarter, similar to the third-quarter level.
Cisco Systems, Inc. Price, Consensus and EPS Surprise
Original post
Get The News You Want
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.