Categories Earnings, Technology

Cisco Systems (CSCO) Q4 earnings drop but top expectations

Network gear maker Cisco Systems, Inc. (NASDAQ: CSCO) on Wednesday announced financial results for the fourth quarter of fiscal 2020, reporting a decline in earnings and revenues. However, the numbers topped expectations.

Cisco Systems Inc. Q4 2020 Earnings Infographic

Adjusted earnings decreased to $0.80 per share from $0.83 per share last year. It was much better compared to analysts’ estimates. Net income, meanwhile, rose 19% year-over-year to $2.6 billion or $0.62 per share.

At $12.2 billion, revenues were down 9% from the fourth quarter of 2019, but slightly above the consensus forecast.

Looking forward to listening to management/analysts’ comments on Q4 results? Stay tuned here for Cisco’s Q4 2020 earnings call transcript 

The stock declined immediately after the announcement, after closing the regular session higher. Currently, the shares are trading close to the levels seen at the beginning of the year.

Also read: Cisco Systems (CSCO) Q4 earnings: Stock tanks on subtle Q1 outlook and cost cut announcement

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