Cisco: Q3 adjusted EPS up 5%, share doesn't follow

(CercleFinance.com) - On Wednesday evening Networking equipment giant Cisco Systems reported Q3 2021-22 adjusted (non-GAAP) earnings that are up 3% to 3.
6 billion dollars, representing adjusted EPS of 87 cents (+5%).

Revenues were flat at 12.8 billion dollars, as the 3% growth in product sales was offset an 8% decline in services, while the group's adjusted gross margin deteriorated by 0.7% to 65.3%.

Cisco said that it expects solid demand for its technologies and provided an adjusted EPS guidance range of 3.29-3.37 dollars, with revenue growth of 2% to 3% for the current year.

Irrespectively, the share was short-circuited yesterday (-4.4%) and is down 11.5% in pre-market trading today.


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