Cisco's EPS rises 7% to $0.73 in Q3

Wednesday, 18. May 2022 22:08

Cisco Systems Inc. announced on Wednesday that GAAP diluted earnings per share (EPS) for the third fiscal quarter of 2022 stood at $0.73, up 7% from the same period a year ago.

For the three months ending April 30, 2022, the company's revenue amounted to $12.8 billion, flat year over year. In the same quarter, operating income grew on an annual basis to $3,6 billion, and net income rose by 6% to $3 billion. Besides, the company also said that the total negative impact on revenue due to the military operation in Ukraine was approximately $200 million.

"We continued to see solid demand for our technologies, and our business transformation is progressing well," said Chuck Robbins, chair and CEO of Cisco. "While Covid lockdowns in China and the war in Ukraine impacted our revenue in the quarter, the fundamental drivers across our business are strong, and we remain confident in the long term."

The company's stock fell 15.32% in after-hours trading following the report's release.

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Baha Breaking News (BBN) / JG