Cisco said revenue for Q3 of fiscal 2024 (ended April 27, 2024) fell 13% year over year to $12.7 billion. Product revenue declined 19%, service revenue rose 6%, and Splunk contributed $413 million.

1. 01

   Cisco said revenue for Q3 of fiscal 2024 (ended April 27, 2024) fell 13% year over year to $12.7 billion. Product revenue declined 19%, service revenue rose 6%, and Splunk contributed $413 million.

2. 02

   Cisco said GAAP net income for Q3 fell 41% year over year to $1.9 billion ($0.46 per share), and non-GAAP net income fell 14% to $3.6 billion ($0.88 per share). The company said the Splunk acquisition, including financing costs, had a negative impact of $0.09 on GAAP EPS.

3. 03

   The company said operating cash flow for Q3 was $4.0 billion, down 24% from $5.2 billion a year earlier. In the same quarter, it returned $2.9 billion to stockholders through dividends of $1.6 billion and share buybacks of $1.3 billion.

4. 04

   Cisco named Gary Steele, who joined with the Splunk acquisition on March 2024, as President, Go-to-Market, effective May 15, 2024. He will oversee global sales, partner and marketing operations. Jeff Sharritts will step down from his role and remain with Cisco through July 15, 2024.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.