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Jul 29, 2023
Cisco Q4 2023 Earnings Report
Cisco's Q4 earnings exceeded expectations, driven by strong growth in revenue and EPS.
Key Takeaways
Cisco reported a strong Q4 with revenue of $15.2 billion, up 16% year over year, and GAAP EPS of $0.97, up 43% year over year. Non-GAAP EPS was $1.14, up 37% year over year. The company saw solid customer demand and progress on business model transformation.
Q4 revenue reached $15.2 billion, a 16% increase year over year.
GAAP EPS increased by 43% year over year to $0.97.
Non-GAAP EPS rose by 37% year over year to $1.14.
Operating cash flow for Q4 was $6.0 billion, up 62% year over year.
Cisco
Cisco
Cisco Revenue by Segment
Cisco Revenue by Geographic Location
Revenue by Segment
Networking Revenue
CapyFin.comSecurity Revenue
CapyFin.comCollaboration Revenue
CapyFin.comObservability Revenue
CapyFin.comServices Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.comAPJC Revenue
CapyFin.com Forward Guidance
Cisco provided guidance for Q1 FY 2024 with revenue expected to be between $14.5 billion and $14.7 billion and non-GAAP EPS between $1.02 and $1.04. For FY 2024, revenue is expected to be between $57.0 billion and $58.2 billion and non-GAAP EPS between $4.01 and $4.08.
Positive Outlook
- Revenue for Q1 FY 2024 is projected to be $14.5 billion - $14.7 billion.
- Non-GAAP gross margin rate for Q1 FY 2024 is expected to be 65% - 66%.
- Non-GAAP operating margin rate for Q1 FY 2024 is anticipated to be 34% - 35%.
- Non-GAAP EPS for Q1 FY 2024 is forecasted to be $1.02 - $1.04.
- Revenue for FY 2024 is expected to be $57.0 billion - $58.2 billion.
Challenges Ahead
- GAAP EPS for Q1 FY 2024 is estimated to be $0.79 to $0.84.
- Guidance does not include effects of future acquisitions/divestitures.
- Guidance excludes asset impairments.
- Guidance excludes Russia-Ukraine war costs.
- Guidance excludes restructurings, (gains) and losses on investments and significant tax matters or other events.
Revenue & Expenses
Visualization of income flow from segment revenue to net income