Cisco announces fourth-quarter financial report: net profit reaches US$4 billion, AI orders reach US$500 million

Cisco shares rose in after-hours trading following the release of fourth-quarter results. Although the full-year forecast for fiscal 2024 is somewhat mixed, Cisco CEO Chuck Robbins expressed optimism in a statement announcing the earnings.

We see solid customers demand, increased market share and innovated in key areas such as artificial intelligence, security and cloud services. This momentum gives us the confidence to seize the many opportunities ahead.

##▲ Picture source: Cisco’s fourth quarter results compiled by The Motley Fool This site starts from Cisco’s fourth quarter results of 2023 It was noted in the quarterly results that

Cisco announced a net profit of US$4 billion in the fourth fiscal quarter (note on this site: currently about 29.2 billion yuan), with revenue of US$15.2 billion, higher than US$13.1 billion in the same period last year (Current approximately 95.63 billion yuan) .

After adjusting for stock compensation and other costs, Cisco's earnings per share were US$1.14 (currently approximately 8.322 yuan), higher than US$0.83 in the same period last year (currently approximately 6.0589 yuan),

while Cisco's full-year revenue increased by 11% to US$57 billion (currently approximately 416.1 billion yuan), the company's best performance in more than ten years.

Cisco Chief Financial Officer Scott Herron said the backlog of orders through 2022 played an important role. "This is a record quarter in terms of revenue, net profit, earnings per share, free cash flow, etc.," he said, adding that Cisco has received about $500 million (about 3.65 billion yuan). RMB) artificial intelligence orders can build related functions in existing products

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