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Cisco's fourth-quarter net profit of $2.2 billion fell by 42% year-on-year

via:博客园     time:2019/8/15 8:31:08     readed:93

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Tencent Technology News, according to foreign media reports, Cisco on Wednesday released the company's fourth quarter and full-year earnings report as of July 27, 2019. The financial report showed that Cisco's revenue for the quarter was $13.4 billion, up 5% year-on-year; net profit was $2.2 billion, down 42% from the net profit of $3.8 billion in the same period last year.

Revenue:

Cisco's fourth-quarter net revenue was $13.4 billion, up 5% from $12.8 billion in the same period last year.

Geographically, Cisco's fourth-quarter revenue for the Americas business was $8.129 billion, up 8% from the same period last year; EMEA (Europe, Middle East and Africa) operating revenue was $3.297 billion, up 4% from the same period last year; APJC (Asia Pacific , Japan and China) business revenue was $2.02 billion, down 5% from the same period last year.

By business category, Cisco's fourth-quarter product revenue was $10.12 billion, up 7% from $9.642 billion in the same period last year; service revenue was $3,308 million, up 4% from $3.202 billion in the same period last year. Among them, the base platform revenue was 7.876 billion US dollars, up 6% over the same period of last year; application revenue was 1.487 billion US dollars, an increase of 11% over the same period of last year; security business revenue was 714 million US dollars, an increase of 14% over the same period last year; Revenue from other products was $42 million, down 81% from the same period last year.

expenditure:

Cisco's total operating expenses for the fourth quarter were $4.884 billion, up from $4.576 billion in the same period last year. Among them, R&D expenditure in the fourth quarter was US$1.753 billion, up from US$1.626 billion in the same period last year; sales and marketing expenses were US$2.487 billion, up from US$2.348 billion in the same period last year; General and administrative expenses were US$566 million, higher than Last year's $543 million; amortization of acquired intangible assets was $38 million, up from $33 million in the same period last year; restructuring and other expenses were $40 million, up from $26 million in the same period last year.

profit:

Cisco's fourth quarter gross margin was 65.5%, of which the gross profit margin of the product business was 64.7%, and the gross profit margin of the service business was 67.9%. Not in accordance with US GAAP, Cisco's fourth quarter gross margin was 63.2%, of which the gross profit margin of the product business was 61.9%, and the gross profit margin of the service business was 67.2%.

Cisco's fourth-quarter operating profit was $3.7 billion, a 10% increase over the same period last year, and its operating margin was 27.5%. Not in accordance with US GAAP, Cisco's fourth-quarter operating profit was $4.4 billion, an increase of 11% over the same period last year, and operating margin was 32.6%.

Cisco's fourth-quarter net profit was $2.2 billion, down 42% from $3.8 billion in the same period last year; earnings per share were $0.51, less than $0.81 in the same period last year. Not in accordance with US GAAP, Cisco's adjusted net profit for the fourth quarter was $3.6 billion, up 9% from $3.3 billion in the same period last year; adjusted earnings per share were $0.83, up 19% from $0.70 in the same period last year.

Cisco's adjusted earnings per share and revenue in the fourth quarter exceeded Wall Street analysts' previous expectations. Thomson Reuters survey showed that analysts on average expected Cisco's fourth quarter net revenue of $ 13.38 billion, earnings per share (not in accordance with US GAAP) of $ 0.82.

Other financial information:

In the fourth quarter of fiscal year 2019, Cisco's operating cash flow was $3.9 billion, down 4% from $4.1 billion in the same period last year. At the end of the fourth quarter of FY19, Cisco held cash, cash equivalents and investments totaling $33.4 billion, compared to $34.6 billion at the end of the third fiscal quarter of FY1919. It was $46.5 billion at the end of the 2018 fiscal year.

In the fourth quarter of FY19, Cisco repurchased approximately 82 million shares of common stock at an average repurchase price of $54.99 per share for a total expenditure of $4.5 billion. In the fourth quarter, Cisco distributed a cash dividend of $0.35 per common share for a total expenditure of $1.5 billion.

FY 2019 results:

Cisco's FY 2019 revenue was $51.9 billion, up 5% from $43.9 billion in the previous fiscal year; net profit was $11.6 billion, up from $100 million in the previous fiscal year; earnings per share were $2.61, high In the last fiscal year, $0.02. Not in accordance with US GAAP, Cisco's net profit for FY 2019 was US$13.8 billion, up 9% from US$12.7 billion in the previous fiscal year; earnings per share were US$3.10, up 20% from US$2.59 in the previous fiscal year.

Performance outlook:

Cisco expects the company's revenue to increase by 0% year-on-year to 2% in the first fiscal quarter of FY 2020; earnings per share not in accordance with US GAAP will be between $0.80 and $0.82, compared to US GAAP earnings per share will be $0.64 to $0.69. Market analysts on average expected Cisco's first-quarter earnings per share of $0.83 and revenues of $13.4 billion.

Stock price changes:

On the same day, Cisco's share price fell 2.11 US dollars in the Nasdaq regular trading, to close at 50.61 US dollars, a decrease of 4.00%. In subsequent after-hours trading, Cisco's share price fell 4.04 US dollars to 46.58 US dollars, or 7.98%, due to the impact of the market outlook. In the past 52 weeks, Cisco's lowest share price was $40.25 and the highest share price was $58.26. Based on Wednesday's closing price, Cisco's market capitalization is about $221.6 billion. (Tencent Technology Compilation / Ming Xuan)

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