Cisco Systems Inc. (NASDAQ: CSCO) published third-quarter results Wednesday after the closing bell, reporting higher earnings and flat revenues.
Third-quarter adjusted earnings rose to $0.87 per share from $0.83 per share in the third quarter of 2021. Experts had predicted a slightly slower growth. Unadjusted net income, including special items, was $3.04 billion or $0.73 per share, up from last year’s profit of $2.86 billion or $0.68 per share.
Third-quarter revenues remained unchanged year-over-year at $12.84 billion and missed analysts’ expectations.
Check this space to read management/analysts’ comments on Cisco’s Q3 earnings
After losing about 23% in the past twelve months, Cisco’s shares closed Wednesday’s session lower. The stock lost further during extended trading soon after the announcement.