Cisco's third-quarter revenue reached $14.6 billion, a year-on-year increase of 14%

News on May 18, according to ITBEAR technology information, Cisco recently released its financial report for the third fiscal quarter of fiscal year 2023 as of April 29, 2023. The financial report showed that the company achieved profit and revenue performance that exceeded expectations in the third fiscal quarter.

Cisco achieved revenue of $14.6 billion in the third quarter of fiscal 2023, an increase of 14% from the same period last year. Among them, the product business (including routers and switches, etc.) achieved revenue of US$11.092 billion, a year-on-year increase of 17%; the service business achieved revenue of US$3.479 billion, a year-on-year increase of 3%.

According to geography, revenue from the Americas in the third fiscal quarter was US$8.634 billion, a year-on-year increase of 13%; revenue from the EMEA (Europe, Middle East and Africa) region was US$3.806 billion, a year-on-year increase of 13%. An increase of 16%; revenue from the APJC (Asia Pacific, Japan and Greater China) region was US$2.131 billion, an increase of 11% year-on-year.

ITBEAR Technology Information reported that Cisco expects its revenue to increase by 14% to 16% in the fourth quarter of fiscal 2023. The company is expected to have gross margins in the range of 64.5% to 65.5%, operating margins in the range of 34% to 35%, and earnings per share in the range of $1.05 to $1.07. This expectation shows Cisco's optimism for future business.

As the world's leading provider of network equipment and solutions, Cisco's strong performance in the third fiscal quarter reflects to a certain extent the continued push for global network infrastructure upgrades and digital transformation. The company constantly enhances its innovation capability for products and services, meeting the market demand for high-performance network equipment and solutions..

Despite some uncertainties facing the world, such as supply chain bottlenecks and uncertainty about the speed of global economic recovery, Cisco has maintained a solid growth trend. Cisco has achieved positive results in terms of market share and customer base in different regions around the world, which is reflected in the growth of its business.

Overall, Cisco's financial report shows its ability to maintain a leading position in the fiercely competitive technology industry. With the acceleration of digital transformation and the rapid development of emerging technologies, Cisco will continue to be committed to promoting innovation and progress in global network infrastructure and providing customers with more efficient and reliable solutions.

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