Cisco Systems posted fourth-quarter earnings that exceeded analysts’ expectations.
The telecom and networking company’s fourth-quarter non-GAAP earnings came in at 84 cents a share, above analysts’ expectation of 83 cents a share Revenue of $13.1 billion with also topped analysts’ estimate of $13.04 billion.
“We continue to see great momentum in our business as customers are looking to modernize their organizations for agility and resiliency,” said CEO Chuck Robbins. “The demand for Cisco technology is strong with our Q4 performance marking the highest product order growth in over a decade."
Cisco expects first-quarter earnings to range between 79 cents and 81 cents a share, compared to FactSet forecast of 81 cents per share.
The company projects revenue for the quarter to grow between 7.5% and 9.5% year-over-year, compared to analysts’ estimates of 7.7% growth.
Looking further ahead, Cisco projects full-year earnings in the range of $3.38 to $3.45 a share, compared to analyst forecast of $3.41 a share.