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Cisco's third-quarter revenue of $13 billion, net profit increased by 13% year-on-year

via:博客园     time:2019/5/16 8:01:54     readed:117

思科第三财季营收

Sina Technology News, Beijing time on May 17 morning news, Cisco today released the third quarter financial results for the 2019 fiscal year. The report showed that Cisco's third-quarter net profit was $3 billion, up 13% from $2.7 billion in the same period last year; net revenue was $13 billion, up 4% from $12.5 billion in the same period last year. Cisco's third-quarter revenue and adjusted earnings exceeded Wall Street analysts' previous expectations, and the fourth-quarter earnings outlook also met or exceeded expectations, driving its share price to rise more than 3%.

Highlights of the third fiscal quarter of fiscal year 2019:

Net profit:

In the fiscal quarter ended April 27, 2019, according to US GAAP, Cisco's net profit was $3 billion, up 13% from $2.7 billion in the same period last year. According to US GAAP, Cisco's third-quarter earnings per share were 69 cents, a 23% increase from the same period last year. In the third fiscal quarter of fiscal 2018, Cisco's earnings per share were 56 cents.

Excluding one-time expenses (not in accordance with US GAAP), Cisco's third-quarter adjusted net profit was $3.5 billion, up 8% from $3.2 billion in the same period last year; adjusted earnings per share were 78 cents. This is an 18% increase from 66 cents in the same period last year. This performance slightly exceeded analysts' previous expectations. According to FactSet Research, a financial information provider, analysts had expected Cisco's third-quarter earnings per share to be 77 cents.

Revenue:

Cisco's third-quarter net revenue was $13 billion, up 4% from $12.5 billion in the same period last year, and exceeded analysts' expectations. According to FactSet Research, a financial information provider, analysts had expected Cisco's third-quarter revenue to be $12.89 billion.

In the third fiscal quarter of FY19, sales of Cisco products (including routers and switches) were $9.722 billion, up 7% from $9.304 billion in the same period last year; service sales were $3.236 billion, compared with 31.59 in the same period last year. The dollar has increased by 3%. In the product business, Cisco's third-quarter revenue from infrastructure and platform products was $7.545 billion, up 5% from the same period last year; revenue from application products was $1.431 billion, up 9% from the same period last year. Revenue from security products was $770 million, up 21% from the same period last year; revenue from other products was $39 million, down 83% from the same period last year.

Geographically, Cisco's third-quarter revenue from the Americas was $7.695 billion, up 7% from the same period last year; revenue from the EMEA (Europe, Middle East, and Africa) region was $3.356 billion, compared to the same period last year. Growth was 2%; revenue from APJC (Asia Pacific, Japan and Greater China) was $1.907 billion, down 6% from the same period last year.

Gross profit margin:

Cisco's third-quarter gross margin, product gross margin, and service gross margin were 63.1%, 62.0%, and 66.3%, respectively, compared to 62.3%, 61.0%, and 65.8% in the same period last year. Not in accordance with US GAAP, Cisco's third-quarter gross margin, product gross margin, and service gross margin were 64.6%, 63.7%, and 67.3%, respectively, compared to 64.5%, 63.7%, and 67.1% in the same period last year. . By geographic region, Cisco's third-quarter US business gross margin was 65.6%, Europe, Middle East and Africa business gross margin was 64.5%, and Asia-Pacific business gross margin was 60.7%.

Capital return plan:

In the third fiscal quarter of FY 2019, Cisco announced and paid a cash dividend of $0.35 per common share for a total expenditure of $1.5 billion. Cisco repurchased approximately 161 million shares of common stock under its share repurchase program in the third quarter, with an average repurchase price of $52.14 per share for a total expenditure of $6 billion. Under the current share repurchase program, Cisco can further repurchase common stock worth approximately $18 billion, with no maturity date.

Performance outlook:

Cisco expects fourth-quarter revenue for FY2019 to increase 4.5% to 6.5%, non-GAAP gross margin of 64% to 65%, and non-GAAP operating margin of 31%. Up to 32%, the non-compliance with US GAAP is 19%, and the non-GAAP earnings per share are US$0.80 to US$0.82, which is in line with analysts' expectations. According to the FactSet survey, analysts expect Cisco's fourth-quarter adjusted earnings per share to be $0.81. Cisco also expects earnings per share in accordance with US GAAP for the fourth quarter of FY 2019 to be $0.66 to $0.71.

Stock price response:

On the same day, Cisco shares rose $0.42 in the Nasdaq regular trading, to close at $52.44, or 0.81%. In the after-hours trading as of 4:30 pm ET Wednesday (4:30 am Beijing time on Thursday), Cisco's share price rose again by $1.90 to $54.34, or 3.62%. In the past 52 weeks, Cisco's highest price was $57.52 and the lowest price was $40.25. (Tang Feng)

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