Cisco posts smaller-than-expected drop in fiscal Q4 revenue

(Reuters) - Network equipment maker Cisco Systems Inc posted a smaller-than-expected 0.5 percent dip in quarterly revenue, as the company makes a transition through a new cycle of high-end switches and routers.

Cisco reported revenue of $12.4 billion, effectively flat from a year earlier. Wall Street on average had expected $12.1 billion, according to Thomson Reuters I/B/E/S.

The earnings beat the company's previous guidance of a decline in revenue of between 1 percent and 3 percent for the quarter.

Cisco reported a net profit of $2.8 billion in the fiscal fourth quarter, flat from the year-ago quarter and adjusted earnings of 55 cents per share. That exceeded the consensus forecast of 53 cents.

Shares in the company rose 1.67 percent to $25.57 in extended trading, from a $25.20 close on the Nasdaq.

Wall Street will turn its attention to forecasts for the current quarter to be revealed by the company in a conference call with analysts later on Wednesday.

(Reporting by Marina Lopes; Editing by Jonathan Oatis)

WhatsAppFacebookTwitterLinkedinBeloudBluesky