By Denny Jacob

 

Cisco Systems Inc. forecast revenue growth in the current quarter and fiscal year after posting better-than-expected revenue in the fourth quarter.

The networking-equipment giant guided for first-quarter revenue growth between 2% to 4% from a year earlier and adjusted earnings per-share between 82 cents and 84 cents. For fiscal 2023, the company said it expects 4% to 6% revenue growth year over year and adjusted earnings per-share between $3.49 to $3.56.

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.

In the fourth quarter, Cisco posted net income of $2.82 billion on $13.1 billion in revenue.

 

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

 

(END) Dow Jones Newswires

August 17, 2022 16:40 ET (20:40 GMT)

Copyright (c) 2022 Dow Jones & Company, Inc.
Cisco Systems (NASDAQ:CSCO)
Historical Stock Chart
From Oct 2022 to Nov 2022 Click Here for more Cisco Systems Charts.
Cisco Systems (NASDAQ:CSCO)
Historical Stock Chart
From Nov 2021 to Nov 2022 Click Here for more Cisco Systems Charts.