Press release
Cisco Reports Fourth Quarter And Fiscal Year 2020 Earnings
Q4 Results: Revenue: $12.2 billion Decrease of (9)% year over yearEarnings per Share: GAAP: $0.62; Non-GAAP: $0.80 GAAP EPS increased 22% year over year
About this update from Cisco Systems, Inc.
[{"type":"text","content":"Q4 Results: Revenue: $12.2 billion Decrease of (9)% year over yearEarnings per Share: GAAP: $0.62; Non-GAAP: $0.80 GAAP EPS increased 22% year over year Non-GAAP EPS decreased (4)% year over yearFY 2020 Results: Revenue: $49.3 billion Decrease of (5)% year over year 51% of revenue from software and servicesEarnings per Share: GAAP: $2.64; Non-GAAP: $3.21 GAAP EPS increased 1% year over year Non-GAAP EPS increased 4% year over yearQ1 Guidance: Revenue: (9)% to (11)% decline year over year Earnings per Share: GAAP: $0.41 to $0.47; Non-GAAP: $0.69 to $0.71 SAN JOSE, Calif., Aug. 12, 2020 /PRNewswire/ -- Cisco today reported fourth quarter and fiscal year results for the period ended July 25, 2020. Cisco reported fourth quarter revenue of $12.2 billion, net income on a generally accepted accounting principles (GAAP) basis of $2.6 billion or $0.62 per share, and non-GAAP net income of $3.4 billion or $0.80 per share.\n\n \n \n \n \n \n \n\n \nAs previously disclosed, Cisco completed the divestiture of the Service Provider Video Software Solutions (SPVSS) business in the second quarter of fiscal 2019 on October 28, 2018. Revenue and non-GAAP financial information have been normalized to exclude the SPVSS business from prior periods for comparative purposes.\n\"By the end of fiscal 2020, we achieved our goal of more than half of our revenue coming from software and services, and this strategy continues to resonate with customers as they digitize their organizations. Throughout fiscal 2020, Cisco has demonstrated operational resilience based on our strong customer relationships, solid financial foundation, and differentiated innovation,\" said Chuck Robbins, chairman and CEO of Cisco. \"As we focus on the future, we are rebalancing our R&D investments to focus on new areas so we can continue to offer customers the best, most relevant technology in simpler, more easily consumable ways.\"\nQ4 GAAP Results\nQ4 FY 2020\nQ4 FY 2019\nVs. Q4 FY 2019\nRevenue\n$\n12.2\nbillion\n$\n13.4\nbillion\n(9)%\nNet Income\n$\n2.6\nbillion\n$\n2.2\nbillion\n19%\nDiluted Earnings per Share (EPS)\n$\n0.62\n$\n0.51\n22%\nQ4 GAAP results for fiscal 2019 include a $0.9 billion charge related to the Tax Cuts and Jobs Act.\nQ4 Non-GAAP Results\nQ4 FY 2020\nQ4 FY 2019\nVs. Q4 FY 2019\nNet Income\n$\n3.4\nbillion\n$\n3.6\nbillion\n(5)%\nEPS\n$\n0.80\n$\n0.83\n(4)%...