Cisco Systems Inc (NASDAQ:CSCO, ETR:CIS) shares jumped more than 6% afterhours as the networking, security and cloud firm posted better-than-expected financial results for the fiscal fourth quarter and guidance above Street estimates.
For Q4, Cisco said revenue decreased 10% year-over-year to $13.6 billion, above the high end of the company’s guidance range and ahead of estimates of $13.52 billion.
Adjusted earnings per share (EPS) were $0.87, $0.02 ahead of the $0.85 expected.
For the fiscal first quarter, the firm guided revenue in the range of $13.65 billion to $13.85 billion, above Street estimates of $13.57 billion.
It expects adjusted EPS to be between $0.86 to $0.88, beating forecasts of $0.84.
For fiscal 2025, Cisco expects adjusted EPS in the range of $3.52 to $3.58 on revenue of $55 billion to $56.2 billion, in line with estimates of $3.54 and $55.33 billion, respectively.
"We delivered a strong close to fiscal 2024," Cisco CEO Chuck Robbins said in a statement.
"In our fourth quarter, we saw steady customer demand with order growth across the business as customers rely on Cisco to connect and protect all aspects of their organizations in the era of AI."
Shares of Cisco were up 6.1% at about $48 post-earnings.