Cisco Earnings Rise, But Sales Miss
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Cisco's report is critical for many in the IT industry, who are looking for signs of continued growth in tech spending as enterprises migrate to the cloud and upgrade their data centers with new capabilities. Unfortunately, Cisco CEO John Chambers could offer only lukewarm reassurance that things were getting better. Enterprise Networking Planet takes a look at the numbers.
Cisco (NASDAQ: CSCO) reported fiscal fourth-quarter net income of $2.5 billion in non-GAAP today on sales of $10.84 billion for the quarter -- an increase in revenue of 27 percent from the same quarter a year ago, but short of analysts' estimates of $10.88 billion in sales.
Still, Cisco did have some good news for industry watchers: The network giant's Q4 earnings per share of $0.43 (non-GAAP) is a 39 percent increase over last year, beating Wall Street estimates of $0.42 per share.