Cisco (CSCO, $42.94) Q3 earnings exceeds Zacks Consensus Estimate
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.
Contributor
Sergey Savastiouk, Ph.D. has a degree in Applied Mathematics from Moscow University and has extensive experience as an entrepreneur, investor, manager, and mathematician. His professional expertise is in applied mathematics, mathematical modeling, system and pattern analysis, and software and hardware system integration. He has served as the CEO of several hi-tech start-up companies and nonprofit organizations, which has given him proven capabilities in business strategy for high-tech start-up companies, market assessment, company formation, team building, product development, marketing, and sales. He has published numerous articles in journals and magazines on related fields. As a retail investor, he spent 15 years developing his proprietary trading and quantitative algorithms (now Tickeron’s A.I.), which brought him significant returns in trading the stock market. His current work and goal in founding Tickeron is to bring professional, sophisticated stock market analysis capabilities to retail investors via an easy-to-use interface.
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