Cisco Group's 2024 Q3 Financial Report Revenue Decline and Outlook

TapTechNews May 17th news, Cisco Group has recently released its fiscal third quarter of 2024 (as of April 27, 2024) financial report. The revenue was 12.702 billion US dollars (TapTechNews note: currently about 91.708 billion yuan), a year-on-year decline of 13%, which is the largest decline since 2009.

The net profit in the third fiscal quarter decreased by 41% from 3.21 billion US dollars (that is, 78 cents per share) in the previous year to 1.89 billion US dollars (that is, 46 cents per share).

The sales of Cisco's product category in the third fiscal quarter was 9.024 billion US dollars, a 19% decrease compared to the same period. Specifically including:

The revenue of network products was 6.522 billion US dollars, a 27% decrease compared to the same period;

The revenue of security products was 1.304 billion US dollars, a 36% increase compared to the same period;

The revenue of cooperative products was 9.87 billion US dollars, basically unchanged compared to the same period;

The revenue of observability products was 2.11 billion US dollars, a 27% increase compared to the same period.

The service sales was 3.678 billion US dollars, a 6% increase compared to the same period.

Judging from the news released in Cisco's official press release, it is expected that the revenue in the fourth fiscal quarter will be between 13.4 and 13.6 billion US dollars (currently about 9.6748 to 9.8192 billion yuan), and the annual revenue is estimated to be between 53.6 and 53.8 billion US dollars (currently about 38.6992 to 38.8436 billion yuan).