Cisco tops expectations with quarterly revenue growth of 6%

Thursday 16 May 2019 | 08:49 CET | News

Cisco reported results for its fiscal third quarter to April at the high end of its guidance. Revenues rose 6 percent to USD 13.0 billion after excluding the sold service provider video business, and EPS jumped 23 percent to USD 0.69, helped by the company's share buyback. 

Revenue growth was again led by security products, up 21 percent, while applications grew 9 percent and infrastructure platforms 5 percent. Cisco also completed the acquisitions of Luxtera and Singularity Networks in the quarter. 

On a geographic basis, the Americas showed the strongest growth, up 9 percent, while EMEA grew 5 percent, and the APJC region was down 4 percent. 

Cisco limited the increase in operating costs to 1 percent, delivering an operating margin of 27.1 percent. Operating cash flow rose 79 percent to USD 4.9 billion, after one-time tax payments of USD 1.8 billion in the year-earlier period. 

For the fourth quarter, Cisco forecast slightly stronger revenue growth, at 4.5-6.5 percent. The adjusted gross margin is again estimated at 64-65 percent, and the adjusted operating margin at 31-32 percent. EPS is expected to reach USD 0.66-0.71. 

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Categories: General
Companies: Cisco
Countries: World
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