Cisco Systems Inc. reported on Wednesday that its revenue in the third fiscal quarter of 2021 amounted to $12.8 billion, marking a 7% increase year-over-year. The company’s net income rose 3% on an annual basis to reach $2.9 billion, while diluted earnings per share went up by 5% to $0.68. Operating income totaled $3.5 billion, rising by 1% compared to the third quarter of fiscal 2020. “Cisco had a great quarter with strong demand across the business,” said CEO of Cisco Chuck Robbins. “We are confident in our strategy and our ability to lead the next phase of the recovery as our customers accelerate their adoption of hybrid work, digital transformation, cloud, and continued strong uptake of our subscription-based offerings.” Cisco’s shares were 5.76% down in after-hours trading following the release of the report.
JD.com’s Q1 revenue soars 39% YoY to $31B
JD.com Inc. revealed on Wednesday that its revenue in the first fiscal quarter jumped 39% year-over-year to come in at $31 billion. The e-commerce firm’s income from operations dropped 26.1% during the same period to $0.3 billion, while its net income surged over 227% to $0.6 billion, or $0.34 per share. The number of active customer accounts soared 29% to 499.8 million in the twelve months ending March 31. “As our strong growth momentum from last year continued into the first quarter of 2021, we are also encouraged by the diversification of our revenue streams with an increasing contribution from service revenues,” JD.com CFO Sandy Xu commented.