Cisco reported third quarter revenue of $12.0 billion, GAAP net income of $2.3 billion or $0.46 per share, and non-GAAP net income of $2.9 billion or $0.57 per share.
“We delivered a strong Q3, executing well despite the challenging environment,” said Chuck Robbins, Cisco chief executive officer. “I’m pleased with our performance today as well as the progress we’re making in transitioning our business to a more software and subscription focus, which we’ll continue to apply across our entire portfolio.”
Some highlights for quarter:
- Product revenue was up 1%
- Service revenue was up 11%
- Revenue by geographic segment was: Americas up 4%, EMEA down 2%, and APJC up 10%.
- Product revenue growth was led by Security, Collaboration and SP Video which increased by 17%, 10% and 18%, respectively. Wireless and Data Center each increased by 1%, while Switching and NGN Routing decreased by 3% and 5%, respectively.
- Total gross margin and product gross margin (GAA) were 64.3% and 63.8%, respectively.
- GAAP service margin was 65.9% and non-GAAP service gross margin was 67.1%.
- Total gross margins by geographic segment were: 66.3% for the Americas, 65.5% for EMEA and 60.4% for APJC.
