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Cisco -5% when the discount guide blurs the income beat (NASDAQ: CSCO)



Cisco systems (NASDAQ: CSCO) Was 5% lower after hitting expectations with fiscal fourth quarter earnings but issuing optimistic guidance for the current quarter, the start of a new fiscal year.

Revenue fell 9% to $ 12.2 billion, with declines across all regions and non-GAAP EPS falling 4% to $ 0.80.

Security was a revenue bright spot (with a 10% increase) but its core infrastructure business fell double digits.

The company achieved its goal of attracting more than half of its revenue from software and services.

Chief Financial Officer Kelly Kramer said: “We did well in Q4, delivering high margins despite a very challenging environment. “Software subscriptions now account for 78% of our software revenues, and remaining performance obligations continue to surge during the quarter, reflecting the strength of our software and services portfolio.”

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Revenue by geographic area: Americas, $ 7.19 billion (down 12%); EMEA, $ 3.11 billion (down 6%); APJC, $ 1.86 billion (down 7%).

Revenue by type: Infrastructure platform, $ 6.63 billion (down 16%); Applications, $ 1.36 billion (down 9%); Security, $ 814 million (up 10%); Other products, $ 35 million (down 17%); Services, $ 3.32 billion.

For Q1 FY2021 fiscal, it resulted in a 9-11% decrease in sales from the same period last year, with a gross margin of 64-65%, an operating margin of 30-31%. and EPS of $ 0.69- $ 0.71 (below consensus level of $ 0.76).

That revenue guide points to $ 11.71 billion- $ 11.98 billion, below the consensus for $ 12.29 billion.

The conference call will arrive at 4:30 pm ET.

Press Release




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