Cisco Systems Reports Q4 Earnings Beat
Following Wednesday evenings closing bell, Cisco Systems (NASDAQ: CSCO) reported its 2014 fiscal-year and fourth quarter results.
The stock is trading up about one percent in the after-hours session following a beat on both the top and bottom lines.
"We are executing well in a tough environment and delivered our best non-GAAP earnings per share quarter in our history. I'm pleased with how we are transforming our company over the past several years and that journey continues," stated John Chambers, Cisco chairman and chief executive officer.
- Revenue: $12.4 billion vs. $12.14 billion estimate
- Non-GAAP EPS: $0.55 vs. $0.53 estimate
- Revenue: $47.1 billion, down three percent year-over year
- Non-GAAP EPS: $2.06
The company has approximately $8.6 billion left in its buyback fund with no termination date.
"We returned a record $13.3 billion to shareholders this fiscal year through share buybacks and dividends," stated Frank Calderoni, Cisco executive vice president and chief financial officer. "We remain committed to delivering value to our shareholders through our capital allocation strategy and continued investment in our long-term growth opportunities."
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.