Cisco Earnings Beat in Q4, but Guidance Falls Short By Investing.com

Cisco Earnings Beat in Q4, but Guidance Falls Short

Stock MarketsAug 14, 2019 04:38PM ET

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Cisco Earnings Beat in Q4, but Guidance Falls Short

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.

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.

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

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Comments (1)

Benny Rogers Aug 14, 2019 5:18PM ET

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