Cisco Earnings Top Estimates As Product Orders Improve

Cisco Systems reported a decline in fiscal third-quarter earnings and revenue year-over-year but exceeded analysts' expectations with improved product orders. The inclusion of recently acquired Splunk boosted revenue, contributing $413 million. Despite a 12% drop in earnings and a 13% fall in revenue, Cisco's results were at the higher end of their guidance, partly due to stabilizing demand.

For the upcoming July-ending quarter, Cisco anticipates earnings around 85 cents per share with projected sales of $13.5 billion, surpassing analysts' expectations. The company's revenue is still heavily reliant on networking gear, though it is expanding its software and services sectors. Post-earnings, Cisco stock saw a 4.4% increase in extended trading.