CSCO - Cisco Q3 Earnings: Revenue Beat EPS Beat Splunk Tailwinds 'Stabilization Of Demand' And More | Benzinga
Cisco Systems Inc (NASDAQ:CSCO) reported financial results for the third quarter of fiscal 2024 after the market close on Wednesday. Here’s a look at the key metrics from the quarter.
Q3 Earnings: Cisco’s third-quarter revenue decreased 13% year-over-year to $12.7 billion, which beat the consensus estimate of $12.531 billion, according to Benzinga Pro. The company reported quarterly earnings of 88 cents per share, which beat analyst estimates of 82 cents per share.
Total subscription revenue came in at $6.9 billion. Total annualized recurring revenue came in at $29.2 billion, up 22% year-over-year. Cisco noted that its Splunk acquisition contributed $413 million to total revenue in the quarter.
“We delivered a solid Q3 performance in what remains a dynamic environment. Our unique ...