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8/17, 10:08 PM (Source: TeleTrader)
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Cisco's net income decreases 6% to $2.8B in Q4

Cisco Systems Inc. announced on Wednesday that its net income amounted to $2.8 billion, down 6% from $3 billion a year ago. The company's GAAP diluted earnings per share (EPS) for the fourth fiscal quarter of 2022 stood at $ 0.68, down 3% from $0.71 a year ago. Its revenue stands at $13.1 billion, with no change compared to the previous year.

Cisco ended fiscal 2022 at $51.6 billion, an increase of 3% year-to-year. Its yearly net income amounted to $11.8 billion, up 12% from $10.6 billion in this period of 2021. The company's yearly EPS increased 13% to stand at $2.82 compared to $2.50 last year.

"Full-year product orders and backlog are both at record highs and reflect the strong demand we continue to see for our innovation and the overall value we bring to our customers as they accelerate their digital transformation," said Chair and CEO of Cisco Chuck Robbins.

Cisco's shares increased 3.14% at 4:29 pm ET in the after-hours trade, to sell for $48.10.

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