“Last year was a milestone for Cisco with record performance in both the full year and the fourth quarter,” said Chuck Robbins, Cisco president and CEO.
“We are seeing strong customer demand, gaining market share and innovating in key areas like AI, security and cloud. This momentum gives us confidence in our ability to take advantage of the many opportunities that lie ahead,” added Robbins.
Cisco, which supplies companies including telecommunications firm AT&T and auto retailer AutoNation, posted revenue of $15.2 billion in the fourth quarter, compared with analyst estimates of $15.05 billion.
They have low forecasts
Cisco Systems on Wednesday projected annual revenue below market estimates, in a sign that uncertain economic prospects are weighing on demand from one of the biggest makers of networking equipment.
Slowing demand for cloud services has clouded the outlook for providers of hardware, such as switches and routers, that power computer networks and the Internet in recent quarters.