Cisco reported fourth quarter revenue of $12.1 billion, down 4% from $12.6 billion from the same time last year. Net income (GAAP) was $2.4 billion or $0.48 per share, down 14% from $2.8 billion a year ago.
“We had another strong quarter and a transformative year. We made tremendous progress transitioning our business to more software and recurring revenue and delivered on our commitment to accelerate innovation in our core and across the portfolio,” said Chuck Robbins, CEO, Cisco. “The network has never been more critical to business success and we are building the network of the future.”
Some highlights
- Product revenue was down 5% and service revenue up 1%.
- 31% of total revenue was from recurring offers, up 4 percentage points from the fourth quarter of fiscal 2016.
- Revenue by geographic segment was: Americas down 6%, EMEA down 6%, and APJC up 6%.
- Product revenue performance was led by Wireless and Security which increased 5% and 3%, respectively. NGN Routing and Switching revenue each decreased 9%. Service Provider Video, Data Center, and Collaboration revenue decreased 10%, 4%, and 3%, respectively.
- On a GAAP basis, total gross margin and product gross margin were 62.2% and 60.3%, respectively.
https://newsroom.cisco.com/press-release-content?type=webcontent&articleId=1873317
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