Cisco (CSCO) Q3 Earnings Top Estimates, Revenues Down Y/Y

Cisco Systems (CSCO) reported third-quarter fiscal 2024 non-GAAP earnings of 88 cents per share, which beat the Zacks Consensus Estimate by 6.02%. The bottom line fell 12% year over year.Revenues decreased 12.8% year over year to $12.70 billion but beat the consensus mark by 1.71%. Product revenues (71% of total revenues) decreased 18.6% on a year-over-year basis to $9.02 billion.Splunk contributed $413 million of total revenues in the reported quarter. Networking revenues declined 27% year over year to $6. ...