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 newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags internetbusiness issuesNetworkingfinancial resultsCisco Systems

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

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Tom Pope

Dynabook Portégé X30L-G

Ultimately this laptop has achieved everything I would hope for in a laptop for work, while fitting that into a form factor and weight that is remarkable.

Tom Sellers

MSI P65

This smart laptop was enjoyable to use and great to work on – creating content was super simple.

Lolita Wang

MSI GT76

It really doesn’t get more “gaming laptop” than this.

Jack Jeffries

MSI GS75

As the Maserati or BMW of laptops, it would fit perfectly in the hands of a professional needing firepower under the hood, sophistication and class on the surface, and gaming prowess (sports mode if you will) in between.

Taylor Carr

MSI PS63

The MSI PS63 is an amazing laptop and I would definitely consider buying one in the future.

Christopher Low

Brother RJ-4230B

This small mobile printer is exactly what I need for invoicing and other jobs such as sending fellow tradesman details or step-by-step instructions that I can easily print off from my phone or the Web.

Featured Content

Product Launch Showcase

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?