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 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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