Revenue a shade past $8.5B expectations; EPS $.02 better
Cisco posted revenue of $8.54 billion in its Q4 — $20 million to $40 million better than Wall Street expected — and earnings per share of $.31, two cents better than consensus estimates.
Still, revenue was down 18% from last year and earnings per share were down 23%. But in prepared remarks, CEO John Chambers was upbeat:
“We saw a number of positive signs this quarter in the economy and in our business, especially comparing our sequential quarter-over-quarter order trends. If we continue to see these positive order trends for the next one to two quarters, we believe there is a good chance we will look back and see that the tipping point occurred in our business in Q4.”
Revenue was up 4% from Q3 and within the high range of Cisco’s guidance. Some analysts expect Cisco to grow revenue 1% to 5% sequentially in Q1, 2010.
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