Cisco: Q3 beats consensus

(CercleFinance.com) - On Wednesday night Cisco Systems reported a 2% fall in its adjusted net profit to 3.
4 billion dollars in its third quarter of 2019-20. However, its adjusted EPS edged up 1% to 79 cents, beating the consensus by eight cents.

The networking equipment giant saw its revenues decline 8% to 12 billion dollars, including a 5% increase for services, but a 12% decline for products, weighed on by infrastructure platforms (-15%) and applications (-5%).

Considering that it performed well in a very difficult environment, Cisco says that for the current quarter it aims to report adjusted EPS of 72 cents to 74 cents, While expecting its revenue to fall by 8.5% to 11.5%.

The market clearly likes these results, with the share up over 5% in early trading on Wall Street.



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