Cisco's gloomy financials brightened in Q3

The company's revenue and profit were down again, but less than Cisco had forecast

Cisco's quarterly earnings for Q3 2014

Cisco's quarterly earnings for Q3 2014

Cisco posted lower sales and profit in the third quarter but beat its own forecast, signaling that the company is continuing to work against economic and industry challenges following two earlier weak performances.

The dominant networking company posted revenue of $US11.5 billion for the quarter ended April 26, down 5.5 per cent from a year earlier. It had predicted revenue would fall by at least 6 per cent.

Net income fell by 3.2 per cent to $US2.6 billion, with earnings per share dropping to $US0.42. Not including one-time items, Cisco posted earnings of $0.51 per share. That result beat the consensus forecast of analysts surveyed by Thomson Reuters.

For the fourth quarter, the company expects its revenue shortfall to ease, with revenue down by between 1 per cent and 3 per cent.

Sales to US enterprises were a strong point in the quarter, Chairman and CEO John Chambers said on a conference call. However, sales in developing countries continue to be weak and Cisco expects challenges in those countries to continue, Chambers said.

Stephen Lawson covers mobile, storage and networking technologies for The IDG News Service. Follow Stephen on Twitter at @sdlawsonmedia. Stephen's e-mail address is stephen_lawson@idg.com

Join the Good Gear Guide newsletter!

Error: Please check your email address.

Tags business issuesCisco SystemsNetworkingfinancial resultsinternet

Our Back to Business guide highlights the best products for you to boost your productivity at home, on the road, at the office, or in the classroom.

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Stephen Lawson

IDG News Service
Show Comments

Essentials

Lexar® JumpDrive® S57 USB 3.0 flash drive

Learn more >

Microsoft L5V-00027 Sculpt Ergonomic Keyboard Desktop

Learn more >

Mobile

Lexar® JumpDrive® S45 USB 3.0 flash drive 

Learn more >

Exec

HD Pan/Tilt Wi-Fi Camera with Night Vision NC450

Learn more >

Lexar® Professional 1800x microSDHC™/microSDXC™ UHS-II cards 

Learn more >

Audio-Technica ATH-ANC70 Noise Cancelling Headphones

Learn more >

Lexar® JumpDrive® C20c USB Type-C flash drive 

Learn more >

Budget

Back To Business Guide

Click for more ›

Most Popular Reviews

Latest News Articles

Resources

GGG Evaluation Team

Michael Hargreaves

Dell XPS 13

I’d happily recommend this touchscreen laptop and Windows 10 as a great way to get serious work done at a desk or on the road.

Kathy Cassidy

STYLISTIC Q702

First impression on unpacking the Q702 test unit was the solid feel and clean, minimalist styling.

Anthony Grifoni

STYLISTIC Q572

For work use, Microsoft Word and Excel programs pre-installed on the device are adequate for preparing short documents.

Steph Mundell

LIFEBOOK UH574

The Fujitsu LifeBook UH574 allowed for great mobility without being obnoxiously heavy or clunky. Its twelve hours of battery life did not disappoint.

Andrew Mitsi

STYLISTIC Q702

The screen was particularly good. It is bright and visible from most angles, however heat is an issue, particularly around the Windows button on the front, and on the back where the battery housing is located.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?