(RTTNews) - Cisco Systems, Inc. (CSCO) on Wednesday reported fourth-quarter results with revenue and profit rising sharply year over year, driven by strong demand across its networking and technology portfolio.
For the fourth quarter, revenue increased 18% to $17.25 billion from $14.67 billion a year earlier. Net income jumped 51% to $3.86 billion, or $0.97 per share, compared with $2.55 billion, or $0.64 per share, in the prior-year quarter.
Adjusted net income rose 23% to $4.9 billion or $1.22 per share, from $4.0 billion or $0.99 per share last year.
Product revenue increased 24%, led by a 28% gain in Networking revenue, while Security revenue rose 14%.
Looking forward, Cisco expects fiscal 2027 revenue of $72.2 billion-$73.4 billion and adjusted earnings per share of $5.05-$5.11.
For the first quarter, Cisco expects revenue of $18.0 billion-$18.2 billion and adjusted earnings per share of $1.32-$1.34 per share.
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