Cisco earns 11.5% more at the end of its fiscal year and exceeds 11,600 million


The American technology company Cisco obtained a net profit of 11,812 million dollars (11,601 million euros) at the end of its fiscal year, which ended last July, which represents an improvement of 11.5 percent compared to earnings of the multinational in the preceding year.

Cisco’s annual revenues totaled 51,557 million dollars (50,678 million euros), a figure 3.5 percent higher than that of the same quarter of the previous year, with an increase of 5.6 percent in sales of products, up to 38,018 million dollars (37,370 million euros), while income from services decreased by 1.9 percent, to 13,539 million dollars (13,308 million euros).

In the fourth quarter of its fiscal year, Cisco obtained a net profit of 2,815 million dollars (2,767 million euros), 6.4 percent less, while the company’s revenue fell 0.2 percent compared with the same period of the previous year, up to 13,102 million dollars (12,879 million euros).

“We had a strong end to our fiscal year thanks to our performance in the fourth quarter,” said Chuck Robbins, Chairman and CEO of Cisco.

“Total revenue exceeded expectations in the fourth quarter, as a result of our strong execution and the many initiatives we have taken to reduce the impact of the global supply situation,” said Scott Herren, Cisco’s chief financial officer.

Looking ahead to the first quarter of its 2023 financial year, the company forecasts revenue growth of between 2 and 4 percent, with an earnings per share of between 0.64 and 0.68 dollars, while for the whole of For the year, he expects to achieve a 4 to 6 percent increase in revenue, as well as an earnings per share of between $2.77 and $2.88.

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