Investing.com - Cisco (NASDAQ:CSCO) reported on Wednesday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Cisco announced earnings per share of $0.79 on revenue of $11.98B. Analysts polled by Investing.com anticipated EPS of $0.71 on revenue of $11.91B. That with comparison to EPS of $0.78 on revenue of $12.96B in the same period a year before.Cisco had reported EPS of $0.77 on revenue of $12.01B in the previous quarter.Analysts are expecting EPS of $0.71 and revenue of $12.12B in the upcoming quarter.
Cisco shares are down 12% from the beginning of the year and are trading at $43.50 , down-from-52-week-high.They are outperforming the Dow 30 which is down 18.82% year to date.
Cisco shares gained 3.60% in after-hours trade following the report.
Cisco follows other major Technology sector earnings this month
Cisco's report follows an earnings beat by Microsoft on Wednesday, April 29, 2020, who reported EPS of $1.4 on revenue of $35.02B, compared to forecasts EPS of $1.27 on revenue of $33.76B.
Apple had beat expectations on Thursday, April 30, 2020 with second quarter EPS of $2.55 on revenue of $58.31B, compared to forecast for EPS of $2.24 on revenue of $54.78B.
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