Cisco (NASDAQ:CSCO) delivered weaker-than-expected guidance Wednesday, offsetting fourth-quarter results that beat analysts' expectations the top and bottom lines.
Cisco said it expected fiscal first-quarter earnings in the range of $0.80 to $0.82 a share on revenue of $12.68 billion to $12.93 billion, short of expectations from S&P Capital IQ of $0.83 a share on revenue of $13.41 billion.
The networking company reported fiscal fourth-quarter earnings of $0.83 per share on revenue of $13.43 billion. Analysts polled by anticipated earnings per share of $0.81 on revenue of $13.39 billion. That compared to earnings per share of $0.70 on revenue of $12.84 billion in the same period a year earlier. The company had reported earnings per share of $0.78 on revenue of $12.96 billion in the previous quarter.
Ahead of Cisco's fourth-quarter earnings, analysts had highlighted weaker enterprise spending on networking equipment as a headwind that could weigh on growth.
But revenue from the infrastructure platforms division, which make up the bulk of total revenue, rose 6% to $7.88 billion, above the $7.84 billion consensus among analysts polled by FactSet.
Cisco (NASDAQ:CSCO) shares fell 6.24% in after-hours trading following the report.
