Cisco Systems, Inc. (NASDAQ: CSCO) reported its fourth quarter financial results after the closing bell on Wednesday and topped analysts’ estimates in both revenue and earnings. Shares were trading 5.4% higher during Thursday’s pre-market hours.
For the fourth quarter, Cisco reported revenue of USD 12.8 Billion, increasing 6% year over year and beating Thomson Reuters estimates of USD 12.77 Billion. The Company reported an EPS of USD 70 cents, increasing 15% year over year and surpassing Thomson Reuters estimates of USD 69 cents.
Cisco’s revenue predominately comes from its Infrastructure Platform segment, which drove in revenue of USD 7.44 Billion, increasing 7% year over year. The Company’s Services reported the second most revenue of USD 3.20 Billion, increasing 3% year over year.
Applications segment reported revenue of USD 1.33 Billion, increasing 10% year over year. The Securities segment reported revenue of USD 627 Million, increasing 12% year over year. The only segment to report a decline was Cisco’s Other Products segment, reporting revenue of USD 232 Million, decreasing 18% year over year.
“We had a very strong finish to a great year and generated our highest quarterly revenue of $12.8 billion,” said Chuck Robbins, Chairman and Chief Executive Officer of Cisco. “Our results demonstrate a combination of strong customer adoption of our latest innovations, the ongoing value customers see in our software and subscription offerings, and excellent execution across our customer segments and geographies. Our strategy is working and we believe that are well-positioned to capture growth across our portfolio with our pipeline of innovation.”
This past fiscal year represented Cisco’s first full year of appreciable revenue growth in two years, which was driven by its new switching product, the Catalyst 9000, a software-centric switch, according to MarketWatch.
For the full year, Cisco reported revenue of USD 49.3 Billion, increasing 3% year over year, and an EPS of USD 2.60, increasing 9% year over year. Cisco forecasts revenue to grow in between 5% and 7%, with an EPS of USD 70 cents to USD 72 cents for the first quarter in fiscal 2019.