Cisco: Q4 EPS above expectations

(CercleFinance.com) - On Wednesday night Cisco Systems reported adjusted net income that is down 5% at 3.
4 billion dollars for its Q4 2019-20, meaning adjusted EPS of 80 cents, therefore beating the consensus by six cents.

The network equipment giant saw its income fall 9% to 12.2 billion dollars, with stability for services, but a 13% decrease for products; weighed on by infrastructure platforms (-16%) and applications (-9%).

As a result, Cisco posted adjusted EPS of 3.21 dollars for FY 2019-20, with revenues down 5%. Cisco says that it targets adjusted EPS of 69-71 cents for the current quarter, expecting its revenues to fall by 9% to 11%.


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