Jump to content
  • 0

Cisco


Philip Miller
 Share

Question

1 answer to this question

Recommended Posts

  • 0

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.


 

Link to comment
Share on other sites

Join the conversation

You can post now and register later. To reply to this question, sign in or create a new account.

Guest
Reply to this question

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

 Share

×
×
  • Create New...