Cisco Reports Third Quarter Earnings

Cisco (NASDAQ:CSCO) has reported third quarter results for the period ended April 29, 2017, reporting revenue of $11.9 billion for the quarter.
As quoted in the press release:

“I am pleased with the progress we are making on the multi-year transformation of our business,” said Chuck Robbins, CEO, Cisco. “The Network is becoming even more critical to business success as our customers add billions of new connections to their enterprises. We are laser focused on delivering unparalleled value through highly secure, software-defined, automated and intelligent infrastructure.”

GAAP Results
Q3 FY2017				Q3 FY2016				Vs. Q3 FY2016
Revenue	$	11.9	billion	$	12.0	billion	(1	)%
Net Income	$	2.5	billion	$	2.3	billion	7	%
Diluted Earnings per Share (EPS)	$	0.50	$	0.46	9	%
Non-GAAP Results
Q3 FY2017				Q3 FY2016				Vs. Q3 FY2016
Net Income	$	3.0	billion	$	2.9	billion	5	%
EPS	$	0.60	$	0.57	5	%

The third quarter of fiscal 2017 had 13 weeks compared with 14 weeks in the third quarter of fiscal 2016.
Reconciliations between net income, EPS and other measures on a GAAP and non-GAAP basis are provided in the tables located in the section entitled “Reconciliations of GAAP to non-GAAP Measures.”
“We executed well in Q3, delivering $11.9 billion in total revenue, while driving solid profitability and cash generation as we deliver on our strategic priorities,” said Kelly Kramer, CFO, Cisco. “We will continue to invest in growth areas as we move the business toward more software and recurring revenue and return value to shareholders.”

Click here to read the full press release.