Cisco Q3 2021 Earnings Report
Key Takeaways
Cisco reported a strong third quarter with revenue of $12.8 billion, up 7% year over year. GAAP EPS was $0.68 and Non-GAAP EPS was $0.83, each up 5% year over year. The company saw strong product order growth and continued momentum in transforming its business to software and subscriptions.
Revenue reached $12.8 billion, a 7% increase year over year.
GAAP EPS and Non-GAAP EPS both increased by 5% year over year, reaching $0.68 and $0.83 respectively.
Total product order growth increased 10% year-over-year
Software revenue sold as a subscription was 81%, up from 76% last quarter.
Cisco
Cisco
Cisco Revenue by Segment
Cisco Revenue by Geographic Location
Forward Guidance
Cisco expects to achieve revenue growth between 6% and 8% year over year in Q4 2021. Non-GAAP EPS is expected to be between $0.81 and $0.83.
Positive Outlook
- Revenue: 6% - 8% growth Y/Y
- Non-GAAP gross margin rate 64% - 65%
- Non-GAAP operating margin rate 32% - 33%
- Non-GAAP tax provision rate 19%
- Non-GAAP EPS $0.81 - $0.83
Revenue & Expenses
Visualization of income flow from segment revenue to net income