Cisco said it expects to achieve 4-6 percent increase in revenue during fiscal 2022-23 and 2-4 percent increase in the current quarter. Cisco has posted revenue of $13.1 billion (flat growth) in fiscal Q4 and $51.6 billion (+3 percent) in current fiscal.
The results announced on Wednesday suggest networking equipment makers have started overcoming the component crunch that had kept them from tapping a post-pandemic revival in digital infrastructure spending.
Cisco reported fourth quarter and fiscal year results for the period ended July 30, 2022. Cisco reported fourth quarter revenue of $13.1 billion, net income of $2.8 billion or $0.68 per share, and net income of $3.4 billion or $0.83 per share.
Cisco said total revenue was flat at $13.1 billion, with both product revenue and service revenue flat year over year. Revenue by geographic segment was: Americas down 3 percent, EMEA up 8 percent, and APJC down 2 percent.
Cisco said product revenue performance was led by growth in End-to-End Security up 20 percent, Optimized Application Experiences up 8 percent, and Collaboration up 2 percent. Secure, Agile Networks was down 1 percent and Internet for the Future was down 10 percent.
Chuck Robbins, chair and CEO of Cisco, said: “Full year product orders and backlog are both at record highs and reflect the strong demand we continue to see for our innovation and the overall value we bring to our customers as they accelerate their digital transformation.”
