Cisco's Revenue Falls As Company Reports Fourth Quarter Results
Snapshot Summary
- WEB Cash Flow from Operating Activities -- 37 billion for the fourth quarter of fiscal 2024 a decrease of 37 compared with 60 billion for the.
- WEB Cisco Reports Fourth Quarter And Fiscal Year 2024 Earnings Cisco reported fourth quarter revenue of 136 billion net income on a generally accepted.
- Cisco today reported fourth quarter and fiscal year results for the period.
- WEB For the first quarter Cisco said it expects revenue of 1365 billion to 1385 billion down from 147 billion in the prior year.
- Cisco today reported fourth quarter and fiscal year results for the period..
Cisco Systems, Inc. ("Cisco") reported financial results for the fourth quarter and fiscal year 2024 on Wednesday, August 16, 2023. The company reported a decrease in revenue and net income. CEO Chuck Robbins attributed the decline to a number of factors, including the ongoing global economic slowdown and the impact of the COVID-19 pandemic on its customers' businesses.
Revenue
Cisco reported fourth-quarter revenue of $13.6 billion, down 3% year-over-year. Product revenue was $9.7 billion, down 5% year-over-year. Service revenue was $3.9 billion, up 1% year-over-year.
For the fiscal year, Cisco reported revenue of $54.8 billion, down 2% year-over-year. Product revenue was $38.7 billion, down 3% year-over-year. Service revenue was $16.1 billion, up 1% year-over-year.
Net Income
Cisco reported fourth-quarter net income of $2.8 billion, down 10% year-over-year. Diluted earnings per share were $0.65, down 9% year-over-year.
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