Company news: Cisco (CSCO) quarterly results exceed analysts’ expectations

Cisco (CSCO) reported Q4 FY2024 earnings of $0.87 per share (versus $1.14 per share in Q4 FY2023), beating analysts’ consensus estimate of $0.85 per share.

The company’s quarterly revenues amounted to $13.642 bln (-10.3% y/y), beating analysts’ consensus estimate of $13.535 bln.

The company also issued guidance for Q1 FY2025, seeing EPS of $0.86-0.88 versus analysts’ consensus estimate of $0.85 and revenues of $13.65-13.85 bln versus analysts’ consensus estimate of $13.74 bln.

For the full FY2025, it forecast EPS of $3.52-3.58 versus analysts’ consensus estimate of $3.54 and revenues of $55.0-56.2 bln versus analysts’ consensus estimate of $55.58 bln.

In addition, Cisco announced a restructuring plan, which includes a 7% workforce reduction.

CSCO rose to $48.20 (+6.07%) in pre-market trading.