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

Most Popular

Costco (COST) Q4 earnings, revenue top expectations

Retail giant Costco Wholesale Corporation (NASDAQ: COST) reported higher earnings and revenues for the fourth quarter of 2020, reflecting a marked increase in merchandise sales. The results also topped analysts’

Can Cintas (CTAS) take forward virus-driven shift in sales trend?

The disruption caused by coronavirus has affected almost all sectors except business service providers like Cintas Corporation (NASDAQ: CTAS), which is busy helping clients maintain hygiene and safety during the

Rite Aid’s (RAD) loss narrows in Q2 2021

Rite Aid Corporation (NYSE: RAD) reported a narrower loss in the second quarter of 2021. Net loss shrank to $0.25 per share in the recently ended quarter from $1.49 per