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Philip Miller


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Hi Philip, thanks for asking the question. 

Cisco stock price jumped 6% today after the company announced fiscal third-quarter results. Accordingly, Cisco reported adjusted earnings of $0.79 per share, better than $0.69 per share expected from analysts.

In addition, the company said it recorded a revenue of $11.98 billion, which again topped $11.70 billion expected from Wall Street, but still 8% lower compared to the same period a year ago. 

“The resiliency that we have been building into our business model is paying off, with software subscriptions now at 74% of our software revenue, up 9 points year over year. We are focused on driving long-term profitable growth while delivering shareholder value,” CFO Kelly Kramer said.

Cisco warned that it recorded a slowdown in orders in April, which may impact the Q4 performance. As a result, the company expects to earn between $0.72 per share and $0.74 per share, which is lower than $0.79 reported for the third quarter. 

As a result, Cisco stock price hit the highest levels since February this year, almost erasing the coronavirus-related losses. Watch out for a move to over $45 if the buyers can keep up the positive momentum.


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