Cisco Systems, Inc. (CSCO) announced its Q4 earnings recently missing Wall Street expectations and portraying disappointing environment currently for corporate spending on technology. The company reported EPS of 83 cents and revenue of $13.4 billion for the period ending 31st July in comparison to analysts’ expectation of 82 cents a share on sales of $13.39 billion. The company reported that 70 percent of its software revenue came from subscriptions.
The company expects an adjusted profit of 81 cents a share with revenue growth of roughly $13.2 billion for the October quarter. Analysts’ predicted EPS of 83 cents on sales of $13.40 billion. Reportedly, Cisco now aims to move away from its business of selling network switches and routers and plans to increase its revenue from software and services.
Cisco Systems, Inc. (CSCO) is a global technology leader that designs, manufactures, and sells Internet Protocol-based networking and other communications technology. To learn more about Cisco Systems, Inc. (CSCO) and to continue to track its progress please visit the Vista Partners Cisco Systems, Inc. Coverage Page.
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