Cisco reported revenue of $12.8 billion for its fourth quarter of FY 18, up 6% year-over-year — its strongest sales growth in a while. Revenue growth in the 5% to 7% range is also forecast for this quarter (1Q FY 19)
GAAP net income was $3.8 billion or $0.81 per share, and non-GAAP net income was $3.3 billion or $0.70 per share.
Some highlights
- Product revenue was up 7%
- Service revenue was up 3%.
- Recurring revenue as a percentage of total revenue was 32%, up 1 point year over year.
- Revenue by geographic segment was: Americas up 5%, EMEA up 8%, and APJC up 6%.
- Product revenue performance was generally broad based with growth in Security, up 12%, Applications, up 10%, and Infrastructure Platforms, up 7%.
- By customer segment, enterprise was up 11%, commercial was up 9%, public sector was up 1% and service provider return to grow, up 6%.
- On a GAAP basis, total gross margin, product gross margin, and service gross margin were 61.7%, 60.2%, and 66.0%, respectively, as compared with 62.2%, 60.3%, and 67.8%, respectively, in the fourth quarter of 2017.
- Deferred revenue amounted to $19.7 billion, up 6% in total, with deferred product revenue up 15%, driven largely by subscription-based and software offers, and deferred service revenue was up 1%. The portion of deferred product revenue related to recurring software and subscription offers increased 23%.
- Ended Q4 with $46.5 billion in cash and cash equivalents
- For the full FY18, revenue amounted to $49.3 billion, up 3%. Operating cash flow was $13.7 billion.
- The Catalyst 9000 remains the fastest ramping product in company history. At the end of the quarter, there were over 9,650 customers
