SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Cisco Systems Inc. (CSCO) on Wednesday reported fiscal third-quarter net income of $1.89 billion.
On a per-share basis, the San Jose, California-based company said it had profit of 46 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to 88 cents per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 83 cents per share.
The seller of routers, switches, software and services posted revenue of $12.7 billion in the period, also exceeding Street forecasts. Nine analysts surveyed by Zacks expected $12.49 billion.
For the current quarter ending in July, Cisco expects its per-share earnings to range from 84 cents to 86 cents.
The company said it expects revenue in the range of $13.4 billion to $13.6 billion for the fiscal fourth quarter.
Cisco expects full-year earnings in the range of $3.69 to $3.71 per share, with revenue ranging from $53.6 billion to $53.8 billion.
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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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