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Cisco's third-quarter net profit of 2.7 billion US dollars increased by 7% year-on-year

via:博客园     time:2018/5/17 9:31:22     readed:42

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Cisco released its third fiscal quarter financial report for fiscal year 2018 on Wednesday. The report shows that Cisco’s net revenue for the third fiscal quarter was US$12.5 billion, up 4% from US$11.9 billion in the same period of last year; net profit was US$2.7 billion, up 7% from US$2.5 billion in the same period of last year.

Revenue:

In the quarter ended April 28, 2018, Cisco’s net revenue was US$12.5 billion, an increase of 4% over US$11.8 billion in the same period last year.

Geographically, Cisco’s revenue for America’s third fiscal quarter was US$7.161 billion, up 2% over the same period of last year; EMEA (Europe, Middle East and Africa) business revenue was US$3.281 billion, up 2% over the same period of last year; APJC (Asia Pacific) , Japan, and China) reported revenues of US$2.021 billion, an increase of 1% over the same period last year.

By business category, Cisco’s product revenue for the third quarter was US$9.304 billion, an increase of 5% from US$8.885 billion in the same period of last year; service revenue was US$3.159 billion, an increase of 3% from US$3.055 billion in the same period of last year. Among them, basic platform revenue was US$7.163 billion, which was an increase of 2% over the same period of last year. Application revenue was US$1.309 billion, an increase of 19% over the same period of last year. Security business revenue was US$583 million, an increase of 11% over the same period of last year; Other product business revenue was US$249 million, which was 6% lower than the same period of last year.

expenditure:

Cisco's total operating expenditure for the third quarter was $4.625 billion, which was higher than the $4.349 billion for the same period last year. Among them, third-quarter R&D expenditure was 1.59 billion U.S. dollars, which was higher than 1.507 billion U.S. dollars of the same period of last year; sales and marketing expenses were 2.325 billion U.S. dollars, which was higher than the 2.226 billion U.S. dollars of the same period of last year; general affairs and administrative expenses were 551 million U.S. dollars. In the same period of last year, it was 487 million U.S. dollars; the amortization expense of acquired intangible assets was 67 million U.S. dollars, higher than the 59 million U.S. dollars in the same period of last year; and the restructuring and other expenses were 82 million U.S. dollars, which was higher than the 70 million U.S. dollars in the same period of last year.

profit:

Cisco's third-quarter gross margin was 62.3%, of which the gross profit margin of the product business was 61.0%, and the gross profit margin of the service business was 65.8%. Cisco's operating profit for the third quarter was US$3.1 billion, which was a 1% decrease from the same period of last year and operating margin was 25.1%.

Cisco's third quarter net profit was $2.7 billion, up 7% from $2.5 billion in the same period last year; earnings per share were 56 cents, up 12% from 50 cents in the same period last year. Excluding U.S. GAAP, Cisco's adjusted net profit for the third quarter was US$3.2 billion, up 6% from US$3.0 billion in the same period last year; adjusted earnings per share was 66 US cents, up from 60 cents for the same period last year %.

Cisco's adjusted third-quarter earnings per share and revenue exceeded Wall Street analysts' previous expectations. According to FactSet, a financial information provider, analysts on average expected Cisco’s net revenue for the third quarter to be US$ 12.65 billion and earnings per share (other than US GAAP) to be 56 cents.

Other financial information:

In the third quarter of fiscal year 2018, Cisco's cash flow from operations was US$2.4 billion, a decrease of 28% from US$3.4 billion in the same period last year. As of the end of the third quarter of fiscal year 2018, Cisco's cash and cash equivalents and investment totaled $54.4 billion, compared to $70.5 billion at the end of FY17. As of the end of the third quarter of fiscal year 2018, Cisco’s cash and cash equivalents and total investment in the United States amounted to US$47.5 billion.

In the third quarter of fiscal year 2018, Cisco repurchased approximately 140 million shares of common stock at an average repurchase price of US$42.83 per share for a total of US$6 billion. As of April 28, 2018, Cisco’s remaining authorized buybacks amounted to approximately US$25.1 billion, with no expiry date. In the third quarter, Cisco distributed a cash dividend of US$0.33 per common share for a total of US$1.6 billion.

Performance Outlook:

Cisco expects the company’s revenue to grow by 4% to 6% in the fourth quarter of fiscal year 2018, and from 68 cents to 70 cents for non-GAAP earnings per share. The earnings per share according to U.S. GAAP will be lower by US$0.55 to US$0.60.

Cisco’s earnings outlook for the fourth quarter reached Wall Street analyst expectations. According to statistics from Thomson Reuters, analysts expect Cisco's fourth-quarter earnings per share will reach 69 cents, with revenues of US$ 12.71 billion.

Change in stock price:

On the same day, Cisco's share price fell 0.32 US dollars in the Nasdaq regular trading, to close at 45.16 US dollars, a decrease of 0.70%. In the subsequent after-hours trading, Cisco's share price fell by 1.61 US dollars to 43.55 US dollars, a decrease of 3.57%. In the past 52 weeks, Cisco's highest stock price was 30.36 US dollars, the highest stock price was 46.37 US dollars. According to Wednesday's closing price, Cisco's market capitalization is approximately US$217.56 billion.

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