Cisco Systems Inc. (CSCO) announced a profit for third quarter that decreased from the same period last year but beat the Street estimates.
The company's bottom line totaled $1.89 billion, or $0.46 per share. This compares with $3.21 billion, or $0.78 per share, in last year's third quarter.
Excluding items, Cisco Systems Inc. reported adjusted earnings of $3.55 billion or $0.88 per share for the period.
Analysts on average had expected the company to earn $0.82 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter fell 12.8% to $12.70 billion from $14.57 billion last year.
Cisco Systems Inc. earnings at a glance (GAAP) :
-Earnings (Q3): $1.89 Bln. vs. $3.21 Bln. last year.
-EPS (Q3): $0.46 vs. $0.78 last year.
-Revenue (Q3): $12.70 Bln vs. $14.57 Bln last year.
-Guidance:
Next quarter EPS guidance: $0.84 to $0.86
Next quarter revenue guidance: $13.4 - $13.6 Bln
Full year EPS guidance: $3.69 to $3.71
Full year revenue guidance: $53.6 - $53.8 Bln
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