Cisco slips despite strong Q3 results, guidance boost
raisbeckfoto
Cisco (NASDAQ:CSCO) shares fell around 1% in extended-hours trading even as the networking giant reported third-quarter results that beat expectations and raised its full-year guidance.
The Chuck Robbins-led Cisco (CSCO) earned an adjusted $1 per share on $14.6B in revenue, including $11.09B from product revenue. Adjusted gross margins for the period came in at 65.2%.
The company ended the period with $32.1B in remaining performance obligations, slightly above the $31.95B analysts were expecting. 
A consensus of analysts expected Cisco (CSCO) to earn an adjusted 97 cents per share on $14.36B in revenue, up roughly 11.9% from the year-ago period.
Looking to the fourth-quarter, Cisco (CSCO) expects to earn between $1.05 and $1.07 per share, with revenue expected to rise between 14% and 16% year-over-year. Adjusted gross margins are forecast to be between 64.5% and 65.5% for the coming period.
Analysts were forecasting earnings of $1.03 per share and a 14.1% rise in year-over-year sales.
Following the stronger-than-expected results, Cisco (CSCO) raised its full-year earnings and sales forecast. It now expects to earn between $3.80 and $3.82 per share, up from a prior range of $3.73 to $3.78 per share.
Full-year revenue is expected to rise between 10% and 10.5% year-over-year, up from a prior range of 9% to 10.5%. 
The company will host a conference call at 4:30 p.m. EST to discuss the results.
More on Cisco Systems 

Cisco to start manufacturing in India to tweak supply chain: CEO
Cisco to offer mobile office experience in Mercedes-Benz E Class