Cisco Systems beats by $0.01, reports revs in-line; guides Q1 EPS above consensus, revs above consensus (43.86 -0.14)
- Reports Q4 (Jul) earnings of $0.70 per share, excluding non-recurring items, $0.01 better than the Capital IQ Consensus of $0.69; revenues rose 5.9% year/year to $12.84 bln vs the $12.76 bln Capital IQ Consensus, with product revenue up 7% and service revenue up 3%; gross margin 62.9% vs. 63-64% guidance.
- Recurring revenue as a percentage of total revenue was 32%, up 1 point year over year. Revenue by geographic segment was: Americas up 5%, EMEA up 8%, and APJC up 6%. Product revenue performance was generally broad based with growth in Security, up 12%, Applications, up 10%, and Infrastructure Platforms, up 7%.
- Co issues upside guidance for Q1, sees EPS of $0.70-0.72, excluding non-recurring items, vs. $0.69 Capital IQ Consensus; revs +5-7% to ~$12.74-13.0 bln vs. $12.58 bln Capital IQ Consensus Estimate; gross margin 63-64%; operating margin 30-31%. The guidance includes the SPVSS business that is being divested and excludes the Duo Security acquisition since both transactions have not closed