According to the results of the 4th financial quarter, which ended on July 31, the net profit of the American manufacturer of network equipment – Cisco Systems Inc. – rose 15.4% to $ 3 billion, or 71 cents per share, compared to $ 2.6 billion, or 62 cents per share, in the same period last year.
Adjusted earnings were $ 3.6 billion, or 84 cents per share, the company said in a press release.
Revenue increased by 8% to $ 13.1 billion against $ 12.15 billion a year earlier.
— Cisco (@Cisco) August 18, 2021
Cisco forecast net income of 64-69 cents per share, adjusted earnings of 81-83 cents per share and expected revenue growth of 6-8% from a year earlier.
Analysts polled by FactSet, on average, forecast net income of 69 cents per share, adjusted earnings of 83 cents per share and revenues of $ 13.04 billion.
The revenues of the infrastructure platforms division of Cisco, which includes the production of switches and routers, in the last quarter grew 13% to $ 7.55 billion. Revenue from the release of applications fell 1% to $ 1.34 billion.
Computer security software revenue increased 1% to $ 823 million.
Service revenue of Cisco rose 3% to $ 3.41 billion.
Cisco’s net profit for the entire fiscal year was $ 10.59 billion compared to $ 11.21 billion a year earlier. Revenue increased to $ 49.82 billion from $ 49.30 billion a year earlier.
In the first quarter, Cisco predicts net income of 61-66 cents per share, adjusted earnings – at the level of 79-81 cents per share.
Analysts, on average, expect net income at 67 cents per share, adjusted earnings at 81 cents per share and expect revenue to rise by about 7.5% to $ 12.83 billion.
Cisco’s net profit for the entire new fiscal year, according to the company’s forecast, will be $ 2.72-2.84 per share, adjusted earnings – $ 3.38-3.45 per share, revenue will increase by about 5-7%.
Experts polled by FactSet forecast adjusted earnings of $ 3.40 per share on revenue growth of about 4.5% to $ 51.96 billion.
Cisco shares were down 1.9% in additional trading on Wednesday following the release of financials. The company’s capitalization since the beginning of the year has increased by 23.2% to $ 236.1 billion.