CISCO SYSTEMS Reports Record-Breaking Earnings Results for FY2024 Q1
December 3, 2023
🌥️Earnings Overview
CISCO SYSTEMS ($NASDAQ:CSCO) reported their earnings results for FY2024 Q1 on November 15 2023, with total revenue for the quarter at USD 14.7 billion, a 7.6% increase from the same period in the previous year. Net income was also up, increasing by 36.3% to USD 3.6 billion as of October 31 2023.
Stock Price
CISCO SYSTEMS reported record-breaking earning results for its fiscal year 2024 Q1, as the company’s stock opened at $53.3 and closed at the same value, up by 0.2% from the previous closing price of $53.2. This marked a major milestone for the company, as the stock has been steadily climbing since the start of the fiscal year. This impressive revenue growth was driven by CISCO SYSTEMS’ impressive performance in multiple sectors, such as network switching, wireless networking, and cloud services. Moreover, its wide range of hardware and software products also helped in boosting the company’s overall profits. This can be attributed to the fact that the company has been focusing on cost-cutting initiatives, such as streamlining its supply chain and focusing on process optimization.
In addition, its focus on innovation and research and development activities have enabled CISCO SYSTEMS to stay ahead of its competitors in terms of market share and profitability. This can be attributed to the company’s focus on cost-cutting initiatives and its dedication to innovation and R&D activities. As a result, the company’s stock has been steadily climbing since the start of the fiscal year. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cisco Systems. More…
| Total Revenues | Net Income | Net Margin |
| 58.03k | 13.58k | 24.4% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cisco Systems. More…
| Operations | Investing | Financing |
| 18.3k | -3.36k | -12.57k |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cisco Systems. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 98.78k | 53.57k | 10.95 |
Key Ratios Snapshot
Some of the financial key ratios for Cisco Systems are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 6.5% | 6.7% | 28.8% |
| FCF Margin | ROE | ROA |
| 30.1% | 23.6% | 10.6% |
Analysis
As GoodWhale has analyzed the fundamentals of CISCO SYSTEMS, we can conclude that the company is classified as a ‘gorilla’ due to its high and stable revenue and earning growth. This type of company has a strong competitive advantage, making it an attractive investment for many types of investors. CISCO SYSTEMS has an especially high health score of 10/10 when it comes to its cashflows and debt. This indicates that the company is capable of paying off debt and also has the means to fund future operations. Additionally, CISCO SYSTEMS is strong in dividend and profitability, and medium in asset and growth. This makes it an attractive option for many investors looking for a steady return. More…
Peers
Its main competitors are Cognex Corp, Sercomm Corp, and Netgem SA. Cisco has a strong market share in the networking and communications equipment market, and is a well-known and respected brand.
– Cognex Corp ($NASDAQ:CGNX)
Cognex Corp is a technology company that specializes in the development and manufacture of machine vision products, software, and systems. The company’s products are used in a variety of industries, including automotive, consumer electronics, food and beverage, life sciences, logistics, and semiconductor. Cognex Corp has a market cap of 7.94B as of 2022, a Return on Equity of 11.66%. The company’s products are used in a variety of industries, including automotive, consumer electronics, food and beverage, life sciences, logistics, and semiconductor.
– Sercomm Corp ($TWSE:5388)
Sercomm Corporation is a world-leading communication device manufacturer. The company designs, develops, and manufactures a wide range of products for the telecommunications, enterprise networking, and security industries. Sercomm’s products are used in a variety of applications, including VoIP phone systems, video surveillance systems, and wireless networking.
Sercomm has a market capitalization of 19.35 billion as of 2022 and a return on equity of 12.06%. The company’s products are used in a variety of applications, including VoIP phone systems, video surveillance systems, and wireless networking. Sercomm is a world-leading communication device manufacturer.
– Netgem SA ($LTS:0N9W)
Netgem SA is a French company that provides broadband internet, digital television, and fixed-line telephone services to residential and business customers. The company has a market cap of 28.11M as of 2022 and a Return on Equity of -8.09%. Netgem SA offers a variety of services that allow customers to connect to the internet, watch digital television, and make phone calls. The company’s products and services are available in France, Spain, Belgium, Switzerland, and the United Kingdom.
Summary
Cisco Systems has released its first quarter earnings report for FY2024, showing strong performance. Total revenue for the quarter reached USD 14.7 billion, a 7.6% increase year-on-year. Net income was up 36.3%, reaching USD 3.6 billion.
Investing in Cisco Systems appears to offer a sound return on investment, with good growth potential in the coming quarters. The company’s long track record of success provides further confidence that investors will be rewarded for their investments.
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