Cisco information technology company
CISCO SYSTEMS
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published its financial statements for the fourth quarter of 2022 according to which it brought in about $13.6 billion, higher than analysts’ expectations for revenues of $13.43 billion.
Product revenues increased by 9% and service revenues increased by 2%. Revenue by geographic segment: Americas increased by 9%, Europe, the Middle East and Africa increased by 5% and Asia Pacific, Japan and China increased by 1%.
On a non-GAAP basis, total gross profit, product gross profit and service gross profit were 63.9%, 62.1% and 69.1%, respectively, compared to 65.5%, 64.3% and 68.8%, respectively, in the corresponding quarter last year. Non-GAAP operating profit amounted to $4.4 billion, an increase of 1% to approximately 32.5%.
The company records an adjusted profit of 88 cents per share, above analysts’ expectations on Wall Street for an adjusted profit of 85 cents per share.
Cash flow from current operations – $4.7 billion in the second quarter of 2023, an increase of 93% compared to $2.5 billion in the second quarter of 2022.
Cisco stock trades for $48.4 and a market value of $199 billion.
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