Cisco stock fell more than 4 percent in after-market trading on Wednesday after the company reported better-than-expected earnings for its fiscal third quarter, which ended on April 28.
- Earnings: 66 cents per share, excluding certain items, vs. 65 cents per share as expected by analysts, according to Thomson Reuters
- Revenue: $12.46 billion, vs. $12.43 billion as expected by analysts, according to Thomson Reuters
With respect to guidance for the fiscal fourth quarter, Cisco said in a statement that it expects 68 to 70 cents in earnings per share, excluding certain items, on 4 to 6 percent revenue growth, which comes out to $12.62 billion to $12.86 billion in revenue. Analysts had expected 69 cents in earnings per share, excluding certain items, and $12.73 billion in revenue, according to Thomson Reuters.
The company's services business segment produced $3.16 billion in revenue, below the FactSet consensus estimate of $3.23 billion, according to StreetAccount.