Cisco beat Wall Street's expectations by a hair on Wednesday in its final earnings for fiscal 2018. Its stock traded up around 3% in the minutes following the Q4 2018 earnings release, despite losses across the public tech sector earlier in the day.
“We had a very strong finish to a great year and generated our highest quarterly revenue of $12.8 billion,” said CEO Chuck Robbins in a statement. “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.”
Here's what Cisco reported:
Revenue (GAAP) for Q4: Cisco reported $12.84 billion, up 6% from the year before. Analysts expected $12.77 billion.
Earnings per share (adjusted) for Q4: Cisco reported $0.70, up 15% from the year before. Analysts expected $0.69.
Revenue (GAAP) for fiscal 2018: Cisco reported $49.33 billion, up 3% from the year before. Analysts expected $49.26 billion.
Earnings per share (adjusted) for fiscal 2018: Cisco reported $2.60. Analysts expected $2.59.
Revenue guidance for Q1 2019 (GAAP): Cisco expects $12.7 billion to $12.95 billion. Analysts estimated $12.6 billion.
Earnings per share guidance for Q1 2019 (adjusted): Cisco expects $0.70 to $0.72. Analysts estimated $0.69.
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Credit: Cisco Live/Business Insider