Live! Cisco reports earnings

Cisco CEO Chuck Robbins

Cisco just reported its third-quarter, FY2017 earnings.

It reported: $11.9 billion in revenue. Analysts expected $11.89 billion, so that’s a small beat.

EPS of $0.60, exclusing extraordinary items. Analysts expected $0.58, so that’s a beat.

This was its sixth consecutive quarterly decline in revenues, though only by a hair. In its third quarter a year ago, Cisco posted $12 billion in revenues.

Still, the stock is down about 5% in after-hours trading.

Despite that expectation, Wall Street has generally been pleased with Cisco’s direction of late. Under CEO Chuck Robbins, Cisco has been spending big bucks on acquisitions to expand into growing markets, offseting the declines in some of its bread-and-butter networking equipment business. Robbins is particularly focused on remaking the company into a software business with recurring revenues from lots of products in lots of markets other than networking.

More to come.

 

SEE ALSO: A big Cisco naysayer has reversed course and now believes the company is heading in the right direction

Join the conversation about this story »

NOW WATCH: Colonel Sanders’ nephew revealed the family’s secret recipe — here’s how to make KFC’s ‘original’ fried chicken

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s