Cisco Reports 4Q13 Results
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Cisco reported its fourth quarter fiscal 2013 financial results late Wednesday, showing positive growth and momentum across key networking segments. Despite the growth, Cisco plans to reduce its workforce by 4,000 employees in a bid to further improve operational efficiency.
For the quarter, the vendor reported $12.4 billion in revenue, a 6 percent year-over-year gain. Net income grew by 18.4 percent to $2.3 billion. For the full year, Cisco reported its income at $48.6 billion for a 5.5 percent year-over-year gain, while net income came in at $10 billion for a 24.2 percent gain.
Moving forward, Cisco provided first quarter fiscal 2014 guidance for revenue growth to range from 3 percent to 5 percent on a year-over-year basis.