Cisco fiscal Q4 results top estimates

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Cisco fiscal Q4 results top estimates

Investing.com - Cisco reported Wednesday fiscal fourth-quarter results that beat Wall Street expectations as demand was spurred by growing enterprise appetite for AI, security, and cloud. 

Cisco Systems (NASDAQ: CSCO ) shares fell more than 1% in after-hours trade following the report.

The company reported adjusted EPS of $1.14 on revenue of $15.2 billion, beating Wall Street estimates of $1.06 on revenue of $15.05B. 

Product revenue, which accounts for the bulk of overall revenue, rose 20% in the quarter year on year, while services added 4%.

Looking ahead, the company forecasts adjusted Q1 earnings of $1.02 to $1.04 on revenue in a range of $14.5B to $14.7B. That was roughly in line with estimates for adjusted EPS of $0.99 on revenue of $14.6B.  

For 2024, adjusted EPS was expected in a range of $4.01 on revenue of $57.0B to $58.2B.

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