Cisco Q4 revenue up 8% YoY to $13.1B

Wednesday, 18. August 2021 22:07

Cisco Systems Inc. reported its financial results for the fourth fiscal quarter of 2021 on Wednesday marking an 8% increase in revenue to $13.1 billion, compared to the same period of last year. GAAP earning per share grew 15% to $0.71, while the net income rose by 14% and amounted to $3 billion.

For the entire fiscal year of 2021, Cisco's revenue added up to $49.8 billion, which is 1% more than in 2020. Yearly, the losses per share decreased by 5% from $2.64 to $2.50, and the net income dropped by 6% to $10.6 billion, compared to last year.

"We continue to see great momentum in our business as customers are looking to modernize their organizations for agility and resiliency. The demand for Cisco technology is strong with our Q4 performance marking the highest product order growth in over a decade," said Chuck Robbins, Chair and CEO of Cisco.

Following the report, Cisco stocks lost 1.90% to sell for $54.37 per share in the after-hours trading at 4:18 pm ET.

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Breaking the News / LH