Turn out the lights. The party's over.
8 replies (most recent on top)
No, the numbers are rubbish.
I fact checked you, these numbers seem only possible if the entirety of the revenue decrease is attributable to Networking. Which seems plausible, as last year was spent clearing out the backlog, and essentially had no downtime with shipping orders.
Q3 FY 2023 Results:
Revenue: $14.6 billion
Increase of 14% year over year
Earnings per Share: GAAP: $0.78; Non-GAAP: $1.00
GAAP EPS increased 7% year over year
Non-GAAP EPS increased 15% year over year
https://investor.cisco.com/news/news-details/2023/CISCO-REPORTS-THIRD-QUARTER-EARNINGS/default.aspx
https://investor.cisco.com/news/news-details/2024/CISCO-REPORTS-SECOND-QUARTER-EARNINGS/default.aspx
Q2 FY 2024 Results:
Revenue: $12.8 billion
Decrease of 6% year over year
Earnings per Share: GAAP: $0.65; Non-GAAP: $0.87
GAAP EPS decreased 3% year over year
Non-GAAP EPS decreased 1% year over year
Q3 FY 2024 Guidance:
Revenue: $12.1 billion to $12.3 billion
Earnings per Share: GAAP: $0.51 to $0.56; Non-GAAP: $0.84 to $0.86
I guess this was expected once the backlog cleared though
For those questioning the validity of these numbers, it’s what was reported yesterday. Shockingly bad.
And Chuck's pay stays the same.
From Cisco Impact in August "Double digit growth in FY24". Leadership is dangerously unaware with what happens in the real world. The best quote we have now is "we will wait to see what happens". It is like there is no leadership at all.
This is utter BS
We’re just trying to be more inclusive to competitors. Has the mandatory DEI training not worked? Don’t be such a bigot!
How do you know this OP?