8/14/2019, 10:07 PM (Source: TeleTrader)
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Cisco's revenue rises 5% to $13.4B in Q4

Cisco Systems Inc. reported on Wednesday its revenue for the fourth quarter of fiscal 2019 stood at $13.4 billion, jumping 5% compared to the same period in 2018 and in line with market estimates. GAAP earnings per share (EPS) dropped 37% to $0.51, while its net income amounted to $2.2 billion, 42% down from the fourth quarter a year ago. Meanwhile, non-GAAP EPS rose 19% year on year to $0.83 and non-GAAP net income climbed 9% to $3.6 billion.

For the full fiscal 2019, the American tech company reported revenue of $51.9 billion, up 5% year on year. GAAP EPS for the twelve-month period stood at $2.61, soaring compared to EPS of $0.02 in 2018, while GAAP net income amounted to $11.6 billion. Adjusted EPS jumped 20% in 2019 to $3.10 and adjusted net income rose by 9% to $13.8 billion.

"Our Q4 results marked a strong end to a great year. We are executing well in a dynamic environment, delivering tremendous innovation across our portfolio and extending our market leadership," CEO Chuck Robbins stated.

Cisco shares plunged 7.35% in after-hours trading as the company reported weaker-than-expected guidance for the first quarter of 2020. Cisco noted it expects 0% to 2% year over year revenue growth and GAAP EPS in the $0.64 to $0.69 range in the next quarter.

Breaking the News / NP