Cisco Systems, Inc. (CSCO - Free Report) just released its third quarter fiscal 2018 financial results, posting adjusted earnings of $0.66 per share and revenues of $12.46 billion.
Cisco is currently a Zacks Rank #2 (Buy), which is subject to change based on today’s results. Shares of Cisco are up nearly 32% over the last year. The company’s stock price did dip 0.70% on Wednesday to hit $45.16 per share prior to the release of its quarterly earnings results.
Cisco stock is currently down 3.32% to $43.66 in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company posted adjusted earnings of $0.66 per share, beating the Zacks Consensus Estimate of $0.65 per share.
Beat revenue estimates. The company saw revenue figures of $12.46 billion, just topping our consensus estimate of $12.42 billion.
Cisco saw its quarterly revenues climb by roughly 4% from $11.94 billion in the year-ago period. Meanwhile, the company’s earnings surged 10% from $0.60 per share.
Looking ahead, Cisco expects to post adjusted fourth quarter earnings between $0.68 and $0.70 per share, which falls in line with our current Q4 estimate of $0.68 per share. The company also expects its Q4 revenues will climb between 4% and 6%. Our current estimate is calling for revenues to pop by 4.75% to hit $12.71 billion.
Here’s a graph that looks at CSCO’s Price, Consensus and EPS Surprise history:
Check back later for our full analysis on CSCO’s earnings report!
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