Earnings: Cisco (CSCO) Q3 2023 profit grows on higher revenues

Cisco Systems Inc. (NASDAQ: CSCO) announced results for the third quarter of 2023, reporting higher revenues and earnings. The company also provided guidance for the fourth quarter and fiscal 2023. The San Jose-headquartered network gear maker said that earnings, excluding special items, rose to $1.00 per share in the April quarter from $0.87 per share […]

$CSCO May 17, 2023 1 min read

NYSE

$CSCO · Earnings

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Cisco Systems Inc. (NASDAQ: CSCO) announced results for the third quarter of 2023, reporting higher revenues and earnings. The company also provided guidance for the fourth quarter and fiscal 2023. The San Jose-headquartered network gear maker said that earnings, excluding special items, rose to $1.00 per share in the April quarter from $0.87 per share […]
· May 17, 2023

Cisco Systems Inc. (NASDAQ: CSCO) announced results for the third quarter of 2023, reporting higher revenues and earnings. The company also provided guidance for the fourth quarter and fiscal 2023.

Cisco Q3 2023 earnings infographic

The San Jose-headquartered network gear maker said that earnings, excluding special items, rose to $1.00 per share in the April quarter from $0.87 per share in the same period of 2022. Unadjusted net income was $3.21 billion or $0.78 per share, compared to last year’s profit of $3.04 billion or $0.73 per share.

At $14.57 billion, third-quarter revenues were up 14% year-over-year. The top line benefitted from strong contributions from the core Secure, Agile Networks division.

“In Q3, we delivered record revenue and double-digit growth in both software and subscription revenue. As key technologies like cloud, AI and security continue to scale, Cisco’s long-established leadership in networking, and the breadth of our portfolio position us well for the future,” said Cisco’s CEO Chuck Robbins.