Menu
Cisco's gloomy financials brightened in Q3

Cisco's gloomy financials brightened in Q3

The company's revenue and profit were down again, but less than Cisco had forecast

Cisco's quarterly earnings for Q3 2014

Cisco's quarterly earnings for Q3 2014

Cisco posted lower sales and profit in the third quarter but beat its own forecast, signaling that the company is continuing to work against economic and industry challenges following two earlier weak performances.

The dominant networking company posted revenue of $US11.5 billion for the quarter ended April 26, down 5.5 per cent from a year earlier. It had predicted revenue would fall by at least 6 per cent.

Net income fell by 3.2 per cent to $US2.6 billion, with earnings per share dropping to $US0.42. Not including one-time items, Cisco posted earnings of $0.51 per share. That result beat the consensus forecast of analysts surveyed by Thomson Reuters.

For the fourth quarter, the company expects its revenue shortfall to ease, with revenue down by between 1 per cent and 3 per cent.

Sales to US enterprises were a strong point in the quarter, Chairman and CEO John Chambers said on a conference call. However, sales in developing countries continue to be weak and Cisco expects challenges in those countries to continue, Chambers said.

Stephen Lawson covers mobile, storage and networking technologies for The IDG News Service. Follow Stephen on Twitter at @sdlawsonmedia. Stephen's e-mail address is stephen_lawson@idg.com


Follow Us

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags internetbusiness issuesNetworkingfinancial resultsCisco Systems

Featured

Slideshows

The making of an MSSP: a blueprint for growth in NZ

The making of an MSSP: a blueprint for growth in NZ

Partners are actively building out security practices and services to match, yet remain challenged by a lack of guidance in the market. This exclusive Reseller News Roundtable - in association with Sophos - assessed the making of an MSSP, outlining the blueprint for growth and how partners can differentiate in New Zealand.

The making of an MSSP: a blueprint for growth in NZ
Reseller News Platinum Club celebrates leading partners in 2018

Reseller News Platinum Club celebrates leading partners in 2018

The leading players of the New Zealand channel came together to celebrate a year of achievement at the inaugural Reseller News Platinum Club lunch in Auckland. Following the Reseller News Innovation Awards, Platinum Club provides a platform to showcase the top performing partners and start-ups of the past 12 months, with more than ​​50 organisations in the spotlight.​​​

Reseller News Platinum Club celebrates leading partners in 2018
Meet the top performing HP partners in NZ

Meet the top performing HP partners in NZ

HP has honoured its leading partners in New Zealand during 2018, following 12 months of growth through the local channel. Unveiled during the fourth running of the ceremony in Auckland, the awards recognise and celebrate excellence, growth, consistency and engagement of standout Kiwi partners.

Meet the top performing HP partners in NZ
Show Comments