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5/15/2019, 10:06 PM (Source: TeleTrader)
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Cisco's EPS up 23% to $0.69 in Q3

Cisco Systems Inc. reported on Wednesday its revenue for the third quarter of fiscal 2019 stood at $13 billion, jumping 4% compared to the same period in 2018 and beating market estimates.

The American tech company's GAAP earnings per share (EPS) surged 23% to $0.69, while its net income amounted to $3 billion, 13% higher compared to the same quarter a year ago. Meanwhile, non-GAAP EPS rose 18% year on year to $0.78 and non-GAAP net income climbed 8% to $3.5 billion.

"Our strong performance in the quarter was across the business, reflecting our customers' confidence in our strategy, business model and market-leading portfolio," CEO Chuck Robbins stated. "Technology is at the heart of our customers' strategies and we are building the technology to help them achieve their business objectives," he added.

Cisco shares jumped 2.9% in after-hours trading on better-than-expected results.

Breaking the News / NP