By Denny Jacob

 

Cisco Systems Inc. posted flat revenue in the fourth quarter but avoided a decline it previously guided for.

The networking-equipment giant posted net income of $2.82 billion, or 68 cents a share, for the quarter ended July 30, down from $3.01 billion, or 71 cents a share, in the year-ago period. Adjusted earnings a share were 83 cents a share, above analysts' expectations of 82 cents.

Revenue was flat at $13.1 billion. Analysts polled by FactSet expected $12.73 billion.

The company previously guided for revenue to decline 1% to 5.5% and adjusted earnings per-share between 76 cents to 84 cents in the fourth quarter.

Cisco's progress in its business model transformation coupled with its backlog gives the company visibility and confidence in its future revenue, Finance Chief Scott Herren said.

 

Write to Denny Jacob at denny.jacob@wsj.com

 

(END) Dow Jones Newswires

August 17, 2022 16:30 ET (20:30 GMT)

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