【CSCO】シスコシステムズ17年度Q3決算を受け7%下落

【CSCO】決算を受け大幅下落

シスコシステムズの2017年度第三四半期決算が発表されましたが、株価は-7.21%と今年1月の水準に下落し、決算結果が嫌気されています。

ただ、上のEPSのグラフ見る限り、そこまで悪くなかったように思えます。

一方で、↓の引用の下線部で示した通りQ4の売り上げ見通しが4-6% dropとそこそこ大きな下落幅ですね。

ただEPSのQ4見通しも$0.60と別に悪くないように見えますけどね。

ただハードからソフトへの移行が図れてないとする情報もあるようです。

下記はSeeking Alphaの複数の記事から引用しています。

Cisco Systems (CSCO -1.4%) has fallen another 4.8% in heavy after-hours volume after posting fiscal Q3 earnings that beat expectations but held guidance for a Q4 revenue drop of 4-6%.

It’s expecting non-GAAP EPS of $0.60-$0.62 in Q4, vs. consensus for $0.62. And the revenue forecast comes to $11.88B-$12.13B, well below consensus for $12.53B.

For the Q3 report, revenues overall were down 0.5%, and non-GAAP net income rose 5% to $3B. The quarter had 13 weeks vs. 14 weeks a year ago.

Some 31% of revenue was from recurring offers, up from 29% a year ago. Product performance was led by Wireless (up 13%) and Security (up 9%), while Switching revenue gained 2%.
Revenue breakout: Product, $8.885B (up 0.1%); Service, $3.055B (down 2.2%).

“We executed well in Q3, delivering $11.9 billion in total revenue, while driving solid profitability and cash generation as we deliver on our strategic priorities,” says CFO Kelly Kramer.
The company’s extending a previous restructuring with 1,100 more jobs cuts, and a corresponding $150M pretax charge.

Summary
Cisco quarterly revenues failed to reach $12 billion and were down -0.5% YoY. Earnings per share were a surprisingly higher $0.60 and up +5.3% YoY.
Cisco stock has pulled back from a March 1 multi-year closing high and May retests prior to the earnings report.
Cisco’s Business Outlook for the next quarter is disappointing, forecasting both declining revenues and earnings per share YoY.