IT giant Cisco Systems (CSCO - Free Report) , the Silicon Valley-based $250 billion market-cap giant, outperformed expectations on both top and bottom lines in its fiscal Q3 after the close on Wednesday. Earnings of 78 cents per share topped estimates by a penny, up 18% from year-ago earnings, on revenues of $13 billion that surpassed the Zacks consensus $12.88 billion.
Beating on the bottom line is nothing new for Cisco; the company has not come up short on earnings estimates since Zacks recalibrated stock-based compensation (Q2 2015). But guidance was also hiked for Q4 revenues -- to a range of +4.5%-6.5% -- as well as earnings: 80-82 cents per share; the Zacks estimate had been 80 cents. Gross margin guidance also bumped up from previous expectations. Shares are trading up 3% following the positive earnings results.
Jack in the Box (JACK - Free Report) also surpassed expectations on its bottom line in its fiscal Q2, to 96 cents per share from the expected 93 cents. Revenues, however, came up shy of the Zacks consensus: $215.7 million versus the $217.4 million we had been expecting. JACK has now beaten bottom-line estimates in 3 of the last 5 quarters. Guidance for full-year 2019 calls for same-store sales to be flat to +1%. Shares are trading modestly higher in late trading, but are still down year to date.
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