Summary
Cisco Systems, Inc. (CSCO) filed an 8-K on May 18, 2022, to report its financial results for the fiscal third quarter ended April 30, 2022. The filing primarily includes a press release detailing the company's performance. Investors should note that this report contains both GAAP and non-GAAP financial measures, with Cisco providing detailed explanations for its exclusions in non-GAAP calculations. These adjustments aim to present a clearer view of ongoing operational trends by excluding items such as share-based compensation, acquisition-related costs, and impacts from the Russia-Ukraine war. The company emphasizes that non-GAAP measures are intended to supplement, not replace, GAAP measures, and are used internally by management for budgeting and performance review. This approach allows for a focused analysis of core business operations, free from one-time or non-recurring charges. Investors are encouraged to review the accompanying press release for the specific financial figures and a comprehensive understanding of Cisco's performance and outlook.
Key Highlights
- 1Cisco reported its fiscal third quarter 2022 results on May 18, 2022.
- 2The filing includes a press release (Exhibit 99.1) detailing the company's operational and financial performance for the quarter.
- 3Cisco presents both GAAP and non-GAAP financial measures, offering insights into its core business operations.
- 4Non-GAAP measures exclude various items, including share-based compensation expense, amortization of acquisition-related intangible assets, acquisition-related/divestiture costs, and Russia-Ukraine war costs.
- 5The company believes these non-GAAP measures provide a more useful view of ongoing business trends when considered alongside GAAP results.
- 6Management uses these non-GAAP measures for internal budgeting and financial review processes.
- 7Future outlook includes estimated ranges for gross margin, operating margin, tax provision rate, and EPS on a non-GAAP basis.