Cisco Systems posted its third-quarter fiscal 2022 non-GAAP earnings of 87 cents per share, which beat the Zacks Consensus Estimate by 1.16%.
Revenues rose +0.2% year over year to $12.84 billion, falling short of Zacks Consensus Estimate by 3.70%.
In geographical regions, Americas revenues rose +3% year over year to $7.64 billion. Revenues from EMEA climbed +6% year over year to $3.271 billion, while that in APJC also rose +6% to $1.926 billion.
In business segments, Service revenues (26.4% of total revenues) fell -7.6% year over year to $3.39 billion, on the back of growth in software and solution-support services. Product revenues (73.6% of total revenues) increased +3.4% on a year-over-year basis to $9.45 billion.
Total product orders increased +8% year-over-year.
For fourth-quarter fiscal 2022, Cisco expects revenues to decrease between -1% and -5.5% on a year-over-year basis. The company projects Non-GAAP earnings to range between 76 cents and 84 cents per share, and non-GAAP gross margin between 64% and 65% for the quarter.
For fiscal 2022, Cisco anticipates revenues to rise by 2-3% on a year-over-year basis. Non-GAAP earnings are anticipated between $3.29 and $3.37 per share.