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.