Cisco Earnings Beat in Q4, but Guidance Falls Short

Cisco Earnings Beat in Q4, but Guidance Falls Short

Cisco Earnings Beat in Q4, but Guidance Falls Short
Stock Market
Wednesday, August 14, 2019 - 20:07

Investing.com - Cisco (NASDAQ:CSCO) delivered weaker-than-expected guidance Wednesday, offsetting fourth-quarter results that beat analysts' expectations the top and bottom lines.

Cisco said it expected fiscal first-quarter earnings in the range of $0.80 to $0.82 a share on revenue of $12.68 billion to $12.93 billion, short of expectations from S&P Capital IQ of $0.83 a share on revenue of $13.41 billion.

$0.83 S&P
$0.83 S&P
~$12.68-12.93 bln vs

The networking company reported fiscal fourth-quarter earnings of $0.83 per share on revenue of $13.43 billion. Analysts polled by Investing.com anticipated earnings per share of $0.81 on revenue of $13.39 billion. That compared to earnings per share of $0.70 on revenue of $12.84 billion in the same period a year earlier. The company had reported earnings per share of $0.78 on revenue of $12.96 billion in the previous quarter.

Ahead of Cisco's fourth-quarter earnings, analysts had highlighted weaker enterprise spending on networking equipment as a headwind that could weigh on growth.

But revenue from the infrastructure platforms division, which make up the bulk of total revenue, rose 6% to $7.88 billion, above the $7.84 billion consensus among analysts polled by FactSet.

sales of data center networking products, including switches and routers.

Cisco (NASDAQ:CSCO) shares fell 6.24% in after-hours trading following the report.

© Reuters.
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