Cisco Reports Strong Fourth Quarter and Fiscal Year 2024 Results
Revenue Growth and Net Income Highlights
Cisco Systems (CSCO) reported impressive financial results for the fourth quarter and fiscal year 2024, ending July 27. The company recorded fourth-quarter revenue of $152 billion, representing a significant increase compared to the previous year's $136 billion. This revenue growth was primarily driven by strong demand for Cisco's networking and security solutions.
In terms of profitability, Cisco reported net income of $37 billion for the fourth quarter, a notable decrease compared to the previous year's net income of $40 billion. This decline in net income was primarily attributed to increased operating expenses related to research and development, as well as higher costs associated with supply chain disruptions.
Fiscal Year 2024 Performance
For the entire fiscal year 2024, Cisco reported revenue of $552 billion, a slight increase from the previous year's $550 billion. The company's net income for fiscal 2024 amounted to $131 billion, a marginal decline compared to the previous year's $132 billion. Despite the slight decrease in net income, Cisco's overall fiscal year performance remained strong, reflecting the company's solid position in the networking and security markets.
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