SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Cisco Systems Inc. (CSCO) on Wednesday reported fiscal fourth-quarter earnings of $2.16 billion.
On a per-share basis, the San Jose, California-based company said it had net income of 54 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to 87 cents per share.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of 85 cents per share.
The seller of routers, switches, software and services posted revenue of $13.64 billion in the period, also beating Street forecasts. Nine analysts surveyed by Zacks expected $13.52 billion.
For the year, the company reported profit of $10.32 billion, or $2.54 per share. Revenue was reported as $53.8 billion.
For the current quarter ending in October, Cisco expects its per-share earnings to range from 86 cents to 88 cents.
The company said it expects revenue in the range of $13.65 billion to $13.85 billion for the fiscal first quarter.
Cisco expects full-year earnings in the range of $3.52 to $3.58 per share, with revenue ranging from $55 billion to $56.2 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CSCO at https://www.zacks.com/ap/CSCO
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