8/12/2020, 10:10 PM (Source: TeleTrader)
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Cisco beats expectations with $12.2B revenue in Q4

Cisco Systems, Inc. said on Wednesday that its revenue in the fourth quarter of fiscal 2020 landed at $12.2 billion, after a 9% fall compared to the same period the year before. The technology company’s diluted earnings per share grew 22% year-on-year to reach $0.62 in the final quarter of fiscal 2020, with a net profit of $2.6 billion.

"By the end of fiscal 2020, we achieved our goal of more than half of our revenue coming from software and services, and this strategy continues to resonate with customers as they digitize their organizations. Throughout fiscal 2020, Cisco has demonstrated operational resilience based on our strong customer relationships, solid financial foundation, and differentiated innovation," Cisco CEO Chuck Robbins asserted in a statement.

Cisco's shares dropped 5.16% in the after-hours trading upon the release of the earnings report.

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