Cisco issued fiscal fourth-quarter results on Wednesday that topped analysts’ projections and provided a better-than-expected forecast for the coming year. The stock rose 2.5% in extended trading.
Here’s how the company did:
- Earnings: 83 cents per share, adjusted, vs. 82 cents per share as expected by analysts, according to Refinitiv.
- Revenue: $13.10 billion, vs. $12.79 billion as expected by analysts, according to Refinitiv.
Revenue declined slightly in the quarter, which ended July 30, according to a statement. Net income decreased by 6% to $2.82 billion as the company’s adjusted gross margin narrowed to 63.3% from 65.3% in the previous quarter. Analysts had predicted 64.7%.
For the 2023…