Cisco Q3 Report: Sometimes, your best just isn’t good enough. In the case of Cisco (NASDAQ:CSCO) , this has proven to be true. On Wednesday, the company posted its earnings report for fiscal Q3. The report surpassed expectations, both in terms of revenue and estimates. However, that didn’t do wonders for Cisco’s stock, like one would have imagined. Shares dropped around 4% in after-hours trade. So, what happened? If the fiscal Q3 report was better than forecasted, why did Cisco witness a drop in its stock during the after-hours trade? It’s unclear right now; all I know is, the report did better, and the company plans on having more success later this year.
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Cisco Q3 Report
Cisco posted that its earnings came in at 66 cents per share. This is not excluding certain items. For perspective, analysts had forecasted it would bring in 65 cents per share. Then, Cisco announced that its revenue came in at $12.46 billion. Again, for perspective, analysts had been expecting $12.43 billion.
Other Important Numbers:
- Cisco’s services business segment revenue came in at $3.16B
- Cisco’s Infrastructure Platforms segment brought in $7.16B
The group believes it had a significant amount of success in its fiscal Q3 and expects more good things on the horizon. In fact, the San Jose-based company stated that it will be introducing a number of other software services in the near future.
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The Company
For those who don’t know, Cisco is an American supplier of data networking software. It also supplies data networking equipment. It had made shifts recently, such as entering new markets, like cloud connectivity solutions. Also, recently, it removed its online ads from Youtube in a move that confused many. Further, at the start of the month, it was announced that Permira funds acquired Cisco’s service provider video software solutions business.
