Executive Summary

• Cisco reported fiscal 3Q19 revenues of $12.96 billion, up 4.0% and above the $12.89 billion consensus estimate. Adjusted EPS was $0.78, beating the consensus estimate by a penny.
• Cisco claims to be building the only integrated, secure architecture that can handle the cloud, AI, the Internet of thigs, 5G wireless and Wi-Fi 6,m which will revolutionize how businesses operate and deliver experiences
• For the fourth quarter, Cisco guided for revenue growth of 4.5%-6.5% and adjusted EPS of $0.80-$0.82, in line with the $0.81 consensus estimate.