By Yasin Ebrahim
Investing.com - Cisco (NASDAQ:CSCO) reported Wednesday fiscal fourth-quarter results that beat analysts' forecasts as strong demand bolsters order growth.
Cisco shares lost 1.2% in after-hours trade following the report.
Cisco announced earnings per share of 84 cents on revenue of $13.13 billion. Analysts polled by Investing.com anticipated EPS of 83 cents on revenue of $13.04 billion.
Product revenue, which accounts for the bulk of overall revenue, rose 10% in the quarter year on year, while services was up 2.6%.
"The demand for Cisco technology is strong with our Q4 performance marking the highest product order growth in over a decade," the company said.
Looking to Q1, the company guided EPS in a range of 79 cents to 81 cents, in line with Wall Street estimates of 81 cents. Revenue growth was guided within a range of 7.5% to 9.5%.
For the full year, EPS is expected in the range of $3.38 to $3.45, with revenue forecast to grow 5% to 7%.
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