NEWS
NEWS
NEWS
Five in a row: Cisco beats the market again with stellar quarterly financials
The last quarter was a good one for Cisco Systems Inc. with the networking giant beating market expectations for the fifth straight quarter in a row.
Cisco reported Q3 2015 revenue of $12.14 billion, up 5 percent on the same quarter in 2014, with earnings per share coming in at 47 cents GAAP, 54 cents non-GAAP.
Analysts had predicted $12.06 billion in sales, and the figure even came out slightly up on Cisco’s guidance $12.12 billion for the quarter.
“Cisco is in a very strong position and we delivered another solid quarter. Our vision and strategy are working and we are executing very well in a tough environment, as evidenced in our revenue growth, profitability, strong gross margins and cash generation,” Cisco Chief Executive Officer and Chairman John Chambers said in a statement.
“Our customers feel the pace of change and disruption in every industry and market, and know their success depends on digitizing their business. Whether they are the disruptor or the incumbent, they are coming to Cisco as their strategic partner.”
Cisco Chief Financial Officer Kelly Kramer added separately that “I feel great about the quarter. We executed well and the strategy is working” and attributed the better than expected results to a “good balance again across our portfolio.”
The quarterly results were positive ending to a respected career at the top of Cisco for Chambers, who is stepping down after twenty years at the helm as Chief Executive Officer to take over the role of Executive Chairman. Cisco’s Senior Vice President of worldwide field operations Chuck Robbins formally take the position of Chief Executive Officer on July 26.
Image credit: Joi/Flickr/CC by 2.0
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