Cisco Systems Reports Decline in Q4 2024 Earnings Amid Challenging Market Conditions

Wednesday, 14 August 2024, 20:10

Cisco Systems Inc. (NASDAQ: CSCO) has released its financial results for the fourth quarter of 2024, showing a revenue decline of 10% year-over-year, totaling $13.60 billion. However, adjusted earnings per share of $0.87 surpassed analyst expectations, marking a slight improvement despite a decrease from last year's $1.14. CEO Chuck Robbins highlighted steady customer demand and order growth as the company adapts to the evolving market. This performance underscores Cisco's resilience in a difficult economic landscape.
AlphaStreet
Cisco Systems Reports Decline in Q4 2024 Earnings Amid Challenging Market Conditions

Cisco Q4 2024 Results Overview

Network gear maker Cisco Systems Inc. (NASDAQ: CSCO) announced its financial results for the fourth quarter of 2024, revealing mixed outcomes.

Income Summary

  • Adjusted earnings of $0.87 per share, exceeding estimates.
  • Unadjusted net income stands at $2.2 billion, or $0.54 per share.
  • Compare with last year's profit of $4.0 billion or $0.97 per share.

Revenue Analysis

Total revenues of $13.60 billion reflect a 10% year-over-year decrease.

CEO Commentary

CEO Chuck Robbins stated, “In our fourth quarter, we saw steady customer demand with order growth across the business as customers rely on Cisco to connect and protect all aspects of their organizations in the era of AI.”

This report showcases Cisco's ability to navigate challenging market conditions while continuing to meet customer expectations.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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