After trading Wednesday Cisco stock rose more than 6% after reporting earnings. Cisco reported fourth quarter revenue of $12.8 billion, net income on a generally accepted accounting principles (GAAP) basis of $3.8 billion or $0.81 per share, and non-GAAP net income of $3.3 billion or $0.70 per share.
"We had a very strong finish to a great year and generated our highest quarterly revenue of $12.8 billion," said Chuck Robbins, Chairman and CEO of Cisco. "Our results demonstrate a combination of strong customer adoption of our latest innovations, the ongoing value customers see in our software and subscription offerings, and excellent execution across our customer segments and geographies. Our strategy is working and we believe that are well-positioned to capture growth across our portfolio with our pipeline of innovation."
"Q4 was another quarter of broad-based strength across our portfolio reflecting our strong execution and momentum. We delivered record quarterly revenue, up 6%, and non-GAAP EPS, up 15%," said Kelly Kramer, CFO of Cisco. "We are seeing solid demand for our products and solutions while continuing to make progress in transforming our business model and driving long-term shareholder value."
Guidance for Q1 FY 2019:Cisco expects to achieve the following results for the first quarter of fiscal 2019:
| Q1 FY 2019 | ||
| Revenue | 5% to 7% growth Y/Y | |
| Non-GAAP gross margin rate | 63% - 64% | |
| Non-GAAP operating margin rate | 30% - 31% | |
| Non-GAAP tax provision rate | 19% | |
| Non-GAAP EPS | $0.70 - $0.72 |