Community gear maker Cisco Methods Inc. (NASDAQ: CSCO) on Wednesday introduced monetary outcomes for the fourth quarter of 2024, reporting decrease revenues and earnings. The underside line, nevertheless, exceeded estimates.
The San Jose-headquartered tech agency posted adjusted earnings of $0.87 per share for the July quarter, in comparison with $1.14 per share in the identical interval of 2023. Earnings topped expectations.
Unadjusted web revenue was $2.2 billion or $0.54 per share in This fall, in comparison with final yr’s revenue of $4.0 billion or $0.97 per share. At $13.60 billion, fourth-quarter revenues had been down 10% year-over-year.
“In our fourth quarter, we noticed regular buyer demand with order progress throughout the enterprise as prospects depend on Cisco to attach and shield all points of their organizations within the period of AI,” mentioned Cisco’s CEO Chuck Robbins.