Cisco Systems Guides For Revenue Growth in 1Q, FY23
August 17 2022 - 4:55PM
Dow Jones News
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)
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