Cisco: Fiscal 3Q Earnings Snapshot

Associated Press |

SAN JOSE, Calif. (AP) _ Cisco Systems Inc. (CSCO) on Wednesday reported fiscal third-quarter net income of $3.04 billion.

The San Jose, California-based company said it had net income of 69 cents per share. Earnings, adjusted for one-time gains and costs, were 78 cents per share.

The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.

The seller of routers, switches, software and services posted revenue of $12.96 billion in the period, which also topped Street forecasts. Ten analysts surveyed by Zacks expected $12.88 billion.

For the current quarter ending in July, Cisco expects its per-share earnings to range from 80 cents to 82 cents.

Cisco shares have climbed 21% since the beginning of the year, while the Standard & Poor's 500 index has increased 14%. In the final minutes of trading on Wednesday, shares hit $52.37, a climb of 15% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CSCO at https://www.zacks.com/ap/CSCO

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