Cisco just reported its earnings for last quarter.
It’s a beat on revenue and EPS, but the stock is basically flat after hours.
Here’s the score:
EPS: $0.55 vs. $0.53 expected
Revenue: $12.4 billion vs. $12.14 billion expected
The big news: Cisco announced a new round of job cuts. It will cut 6,000 jobs, or 8% of its workforce, starting next quarter.
Another troubling sign: Sales are way down in emerging markets. China is getting hit very hard. Sales are down 23% there.
Last quarter marked the end of Cisco’s fiscal year 2014. Guidance for the next year doesn’t look good, basically flat to 1% growth. Here’s the breakdown of everything for last quarter and the full fiscal year:
Business Insider Emails & Alerts
Site highlights each day to your inbox.