Cisco Systems (NASDAQ:CSCO) ended hump day on a high note as the company reported its latest quarterly earnings results, which topped what analysts were calling for in their consensus estimate.
For its fourth quarter of fiscal 2018, the tech giant amassed adjusted earnings of 70 cents per share when excluding certain items. Analysts were calling for the company to earn roughly 69 cents per share, according to data compiled by a survey conducted by Thomson Reuters.
Cisco Systems posted fourth-quarter revenue of roughly $12.84 billion to end its fiscal 2018 on a high note. The Wall Street consensus estimate was projecting revenue of $12.77 billion, according to data compiled by Thomson Reuters.
The company’s revenue was also up about 6% compared to its fourth quarter of fiscal 2017, while revenue growth for the full fiscal year was up about 3% compared to its fiscal 2017. Most of Cisco’s revenue comes from its hardware, which is part of its Infrastructure Platforms business segment, which brought in revenue of $7.44 billion.
Analysts were calling for Cisco’s Infrastructure Platforms to bring in $7.28 billion in revenue, according to data compiled by FactSet. Its routing product revenue slid slightly due to declines across service provider customers.
CSCO stock fell about 0.3% during regular trading hours on Wednesday in anticipation of the company’s quarterly earnings results. Its strong earnings and revenue showings pushed its shares up more than 5.5% after the bell.
