Cisco Systems (Nasdaq: CSCO) reported earnings on May 9. Here are the numbers you need to know.

The 10-second takeaway
 For the quarter ended April 28 (Q3), Cisco Systems met expectations on revenues and beat slightly on earnings per share.

Compared to the prior-year quarter, revenue increased and GAAP earnings per share grew significantly.

Gross margins contracted, operating margins increased, net margins improved.

Revenue details
 Cisco Systems reported revenue of $11.59 billion. The 38 analysts polled by S&P Capital IQ predicted revenue of $11.58 billion on the same basis. GAAP reported sales were 6.6% higher than the prior-year quarter's $10.87 billion.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 EPS came in at $0.48. The 38 earnings estimates compiled by S&P Capital IQ predicted $0.47 per share. GAAP EPS of $0.40 for Q3 were 21% higher than the prior-year quarter's $0.33 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
 For the quarter, gross margin was 61.9%, 50 basis points worse than the prior-year quarter. Operating margin was 23.9%, 240 basis points better than the prior-year quarter. Net margin was 18.7%, 210 basis points better than the prior-year quarter.

Looking ahead
 Next quarter's average estimate for revenue is $11.94 billion. On the bottom line, the average EPS estimate is $0.48.

Next year's average estimate for revenue is $46.26 billion. The average EPS estimate is $1.85.

Investor sentiment
 The stock has a five-star rating (out of five) at Motley Fool CAPS, with 10,320 members out of 10,826 rating the stock outperform, and 508 members rating it underperform. Among 1,935 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 1,861 give Cisco Systems a green thumbs-up, and 74 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cisco Systems is outperform, with an average price target of $22.85.

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