Cisco (NASDAQ: CSCO) reported its financial results for the third quarter of fiscal 2020 after the regular trading hours on Monday. The technology giant surpassed analysts’ estimates for the quarter.
CFO Kelly Kramer said in a statement, “The resiliency that we have been building into our business model is paying off, with software subscriptions now at 74% of our software revenue, up 9 points year over year. We are focused on driving long-term profitable growth while delivering shareholder value.
The stock gained 3% immediately following the announcement. CSCO shares have slipped nearly 20% in the trailing 12 months.