5/13, 10:07 PM (Source: TeleTrader)
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Cisco revenue at $11.98B in Q3, down 8% YoY

American technology company Cisco Systems, Inc. said in its latest earnings release that the revenue generated in the third quarter ended April 25, 2020, amounted to $11.98 billion, marking a decline of 8% on an annual scale. Diluted earnings per share reached $0.65, down 6% year-over-year, on net income of $2.8 billion.

Kelly Kramer, CFO of Cisco stated: "We executed well in Q3 in a very challenging environment, delivering strong margins and non-GAAP EPS growth. The resiliency that we have been building into our business model is paying off, with software subscriptions now at 74% of our software revenue, up 9 points year over year. We are focused on driving long-term profitable growth while delivering shareholder value."

The San Jose-based company's stock rose by 2.50% in the after-hours trading upon the release of the earnings report.

Breaking the News / TF