Network technology provider Cisco Systems on Wednesday evening reported non-GAAP EPS down 12% to $0.88 for its third quarter 2023-24, on sales down 13% to $12.7 billion.

"Sales, gross margin and non-GAAP EPS came in at or above our target ranges, both including and excluding Splunk, resulting in continued operating leverage," notes CFO Scott Herren.

"Our unique ability to bring together networking, security, observability and data enables Cisco to offer its customers unrivalled digital resilience for the AI era", comments CEO Chuck Robbins, also pointing to a still dynamic environment.

For its full 2023-24 financial year, Cisco anticipates non-GAAP EPS of between $3.69 and $3.71, and sales of between $53.6 and $53.8 billion, implying target ranges of $0.84-0.86 and $13.4-13.6 billion for the final quarter.

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