(Cisco) Cisco expects its revenue in the fourth quarter of 2022 to fall between 1% to 5.5% from the prior year.
The lower revenue projection comes when sales in the third quarter came the same as the prior year’s comparable quarter at $12.8 billion.
In the third quarter, Cisco reported GAAP earnings per share of $0.73, an increase of 7% from the prior year. The company guided a GAAP EPS of between $0.60 and $0.70 in the fourth quarter.
Net income for the company was $3.0 billion in the third quarter, a slight increase from $2.9 billion from the prior year.
Cisco is now expecting its FY22 revenue to grow 2% to 3%. GAAP earnings per share is expected at between $2.75 and $2.85.
CSCO: NASDAQ is down -13.77% in premarket.
