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Apr 29, 2023
Cisco Q3 2023 Earnings Report
Cisco reported strong third-quarter results, driven by record revenue and double-digit growth in software and subscription revenue.
Key Takeaways
Cisco's Q3 2023 results showed strong revenue growth and EPS, driven by strength in software and subscription revenues. The company reported revenue of $14.6 billion, GAAP EPS of $0.78, and non-GAAP EPS of $1.00. Cisco is increasing full year guidance.
Revenue was $14.6 billion, up 14% year over year.
GAAP EPS was $0.78, up 7% year over year, and Non-GAAP EPS was $1.00, up 15% year over year.
Q3 FY 2023 operating cash flow was $5.2 billion, up 43%.
Total software revenue was up 18% year over year and software subscription revenue was up 17% year over year.
Revenue by Geographic Location
Forward Guidance
Cisco provided guidance for Q4 FY 2023, expecting revenue growth between 14% and 16% year over year, non-GAAP gross margin rate between 64.5% and 65.5%, non-GAAP operating margin rate between 34% and 35%, and non-GAAP EPS between $1.05 and $1.07. For fiscal year 2023, the company expects revenue growth between 10% and 10.5% year over year and non-GAAP EPS between $3.80 and $3.82.
Positive Outlook
- Revenue is expected to grow between 14% and 16% year over year.
- Non-GAAP gross margin rate is expected to be between 64.5% and 65.5%.
- Non-GAAP operating margin rate is expected to be between 34% and 35%.
- Non-GAAP EPS is expected to be between $1.05 and $1.07.
- Revenue is expected to grow between 10% and 10.5% year over year for fiscal year 2023.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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