Cisco: its annual sales increased by 11% – 08/17/2023 at 14:16

(AOF) – American computer company, Cisco ended the 2022/2023 financial year with a turnover of 15.2 billion dollars in the fourth quarter, up 16% compared to the previous year. Its revenues rose 11% to $57 billion year-on-year. In this quarter, its earnings per share (GAAP) of 0.97 cents is up 43% compared to the previous year. Over this quarter, its operating cash flow at 6 billion dollars is up 62%.

As for its guidance for the first quarter of fiscal year 2023/2024, Cisco is targeting revenue between $14.5 billion and $14.7 billion and earnings per share (GAAP) between 0.79 and 0, 84 cents.

The company also expects revenue ranging from $57 billion to $58.2 billion and earnings per share (GAAP) between $3.19 and $3.32.


Find out more about the Telecom Equipment Manufacturers sector

Review of the downward outlook for smartphones

Faced with a decline in consumer purchasing power, players in the global smartphone market had to face sales down 14% in the first quarter of 2023 compared to the same period in 2022.

According to IDC, global sales will be lower than expected in the second half, posting a decline of 3.2% compared to 2022. A decline of 1.1% was previously estimated. Gartner had predicted a 4% decline in the market from the start. Chinese brands are particularly affected. Very exposed to their domestic market, Xiaomi, Oppo and Vivo have already lost market share in 2022 and the situation should continue this year.

Apple and Samsung are doing better because, even if sales are falling in volume, these players can play on prices and better maintain their business thanks to a high-end positioning.

The market situation should improve in 2024: growth should become weak but continuous.

Source link -86