Cisco Systems 4Q Revenue Flat But Beats Expectations
August 17 2022 - 03:45PM
Dow Jones News
By Denny Jacob
Cisco Systems Inc. posted flat revenue in the fourth quarter but
avoided a decline it previously guided for.
The networking-equipment giant posted net income of $2.82
billion, or 68 cents a share, for the quarter ended July 30, down
from $3.01 billion, or 71 cents a share, in the year-ago period.
Adjusted earnings a share were 83 cents a share, above analysts'
expectations of 82 cents.
Revenue was flat at $13.1 billion. Analysts polled by FactSet
expected $12.73 billion.
The company previously guided for revenue to decline 1% to 5.5%
and adjusted earnings per-share between 76 cents to 84 cents in the
fourth quarter.
Cisco's progress in its business model transformation coupled
with its backlog gives the company visibility and confidence in its
future revenue, Finance Chief Scott Herren said.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
August 17, 2022 16:30 ET (20:30 GMT)
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