Cisco Systems (CSCO) had an incredible time in the market toward the end of last week, and for good reason. The company recently reported its earnings for the third fiscal quarter of 2016, beating analyst expectations. What’s more is that the company also released incredibly strong guidance. Today, we’ll talk about what we saw from the report, how the market reacted to the news, what we can expect to see from Cisco Systems moving forward, and how binary options traders can take advantage of the trends.
Cisco Systems Reports Strong Quarterly Results
As mentioned above, Cisco Systems recently reported its quarterly results for the third fiscal quarter of 2016. While the report was expected, it wasn’t expected that the company would do so well. Here’s what we saw…
Earnings Per Share – In terms of earnings per share, Cisco Systems did incredibly well. During the third quarter, analysts expected that the company would generate earnings in the amount of $0.55 per share. However, the company reported its earnings $0.02 ahead of expectations at $0.57 per share.
Revenue – Cisco Systems definitely did not disappoint with regard to revenue either. During the quarter, analysts expected that the company would generate revenue in the amount of $11.97 billion. However, the company reported that revenue for the quarter actually came in at $12 billion.
Guidance – As if strong revenue and strong earnings wasn’t enough to excite investors, the company also reported solid guidance for the fourth fiscal quarter of 2016. During the quarter, analysts are expecting that the company will generate earnings in the amount of $0.58 per share. However, Cisco Systems is expecting that earnings for the quarter will come in between $0.59 and $0.61 per share.
Along with the release of the strong earnings report, Chuck Robbins, CEO at Cisco Systems offered positive comments.Here’s what he had to say…
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