Cisco Systems Inc. reported on Wednesday its revenue for the fourth quarter of its fiscal 2023 stood at $15.2 billion, climbing 16% compared to the same quarter a year earlier.
Diluted GAAP earnings per share (EPS) soared 43% to $0.97, while net income surged 41% year on year to $4 billion. Meanwhile, non-GAAP net income grew 36% to $4.7 billion, or $1.14 per share. In the fiscal 2023, Cisco's revenue rose 11% to $57 billion and GAAP EPS jumped 9% to $3.07.
"This past year was a milestone year for Cisco with record performance in both the full year and Q4," CEO Chuck Robbins stated. "We are seeing solid customer demand, gaining market share, and innovating in key areas like AI, security, and cloud. This momentum gives us confidence in our ability to capture the many opportunities ahead,"he added.
Cisco shares fell 1.34% in after-hours trading despite the company posting better-than-expected results and guidance.
