May 16th, 2018 by Adam Armstrong
Cisco Announces 3Q18 Earnings
Cisco Systems Inc. reported its third quarter earnings for its fiscal 2018 year for the period ended April 28, 2018. Overall the numbers were good, especially compared to last quarter’s. After hours trading saw a sharp drop in the stock before a rebound.
Looking at the numbers, Cisco is reporting revenue of $12.5 billion, up 4% from this time last year. The company saw a GAAP net income of $2.7 billion or a gain of $0.56 earnings per share. For non-GAAP the company saw a net income of $3.2 billion or $0.66 diluted earnings per share. Cisco reported a total gross margin as 62.3% GAAP and 63.9% non-GAAP. Operating expenses for the quarter were $4.6 billion GAAP and $4.0 billion non-GAAP.
As per its usual M.O., Cisco saw acquisitions in this quarter including the announcement to acquire Accompany. Cisco also closed the acquisitions of BroadSoft, Inc. and Skyport Systems, Inc. The company declared and paid a cash dividend of $0.33 per common share, or $1.6 billion. Cisco repurchased roughly 140 million shares of common stock for an average price of $42.83 per share for an aggregate purchase price of $6.0 billion.