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Investing.com – Cisco (NASDAQ:CSCO) reported Wednesday third-quarter results that beat analysts’ forecasts, but profit outlook that fell short of expectations weighed.
Cisco shares lost 5% in after-hours trade following the report.
Cisco announced earnings per share of 83 cents on revenue of $12.80 billion. Analysts polled by Investing.com anticipated EPS of 82 cents on revenue of $12.57 billion.
Cisco shares are up 17% from the beginning of the year, still down 3.12% from its 52-week high of $54.14 set on May 10. They are outperforming the Nasdaq which is up 3.19% from the start of the year.
Product revenue, which accounts for the bulk of overall revenue, rose 6% in the quarter year on year, while services added 8%.
Looking to Q4, the company guided EPS in a range of 81 cents to 83 cents, short of Wall Street estimates of 85 cents. Revenue was guided within a range of 6% to 8% growth.
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