Cisco CEO Chuck Robbins (pictured) noted positive trends in supply chain issues during its fiscal Q4 2022 (the period to 30 July), as the company revealed revenue remained flat year-on-year.
On an earnings call, Robbins highlighted Covid-19 (coronavirus) restrictions in Shanghai during April as a challenge for the period, but added these had begun to ease towards the end of its fiscal year and into the current quarter.
“I’m very proud to share that we had a strong end to our fiscal year in the midst of an incredibly dynamic environment”.
Revenue of $13.1 billion was flat year-on-year, with net income down 3 per cent to $3.4 billion.
CFO Scott Herren declared the revenue figure to be at the high-end of Cisco’s guidance.
For the full fiscal year, revenue grew 3 per cent to $51.6 billion, which Robbin’s branded as the second-strongest year in Cisco’s history.
Net income of $11.8 billion was up 12 per cent.
Cisco predicted revenue in fiscal 2023 would rise by between 4 per cent and 6 per cent.