May 15th, 2019 by Adam Armstrong
Cisco Announces 3Q19 Earnings
Cisco reported its second quarter earnings for its fiscal 2019, which ended on April 27, 2019. Overall the numbers are looking pretty good. The stock has shown a slow, but steady increase.
Looking at the numbers, Cisco is reporting revenue of $13 billion, up 4% from this time last year. The company saw a GAAP net income of $3 billion or a gain of $0.69 earnings per share. For non-GAAP the company saw a net income of $3.5 billion or $0.78 diluted earnings per share. Cisco reported a total gross margin as 63.1% GAAP and 64.6% non-GAAP. Operating expenses for the quarter were $4.7 billion GAAP and $4.2 billion non-GAAP.
The company returned $7.5 billion to shareholders through buybacks and dividends. Cisco closed the acquisitions of the semiconductor company Luxtera Inc. and announcing its intent to acquire Singularity Networks. For the next quarter Cisco is expecting revenue to see a 4.5-6.5% growth YoY, non-GAAP gross margin between 64-65%, and non-GAAP EPS between $0.80-$0.82.