Cisco Systems earns 9609 million in fiscal year 2017, 10.5% less

Cisco Systems, the world’s largest maker of computer networking technology, closed its fiscal year 2017 with a net profit of $ 9,609 million, a decrease of 10.5% over the previous year.

In the past twelve months, the San Jose, Calif., Company posted a net profit of $ 1.90 per share, compared to $ 2.11 in the previous fiscal year, when earnings were $ 10,739 million Dollars.

Cisco Systems added a total of $ 48.005 billion in fiscal year 2008, down 2.52 percent from the $ 49,247 million it made in fiscal 2016, despite operating expenses fell slightly to $ 18.251 billion.

Regarding the quarterly results, which were paid the most attention by analysts, the company earned $ 2.424 billion (48 cents per share) in May-July, down 13.8% from the same period last year.

The company billed a total of $ 12,133 million in the last quarter, slightly below the $ 12,638 million posted in the same period last year, although operating expenses also fell to $ 4,587 million at that time.

Finally, Cisco Systems explained that in its fiscal year as a whole, it spent $ 3.7 billion on its share repurchase program, while for the next quarter it expects to make a net profit per share of $ 59-61.

The results of the company did not convince the markets and shares of Cisco Systems, one of the thirty Dow Jones values, fell more than 2% in electronic transactions after the closing of the trading day.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest

Disney and 21st Century Fox ready to announce agreement on Thursday, according to CNBC

The Walt Disney group and the 21st Century Fox consortium are in the final stages of the deal they are negotiating and could announce...

Trump defends his veto against Defense budget “shame” for being “a gift” to China and Russia

The president of the United States, Donald Trump, has redoubled this Saturday his criticism of the Defense budget item that he vetoed last Wednesday...

DCCC launches campaign against Republican attempts to end Obamacare

The Congressional Democrat Campaign Committee (DCCC) today launched a new round of announcements to warn voters about which Republican congressional representatives have tried to...

The pandemic reaches its global ceiling of daily infections with more than 565,000 cases in 24 hours

The US breaks a record with 90,000 new cases and exceeds 9 million infected The coronavirus pandemic originating in the Chinese city of Wuhan has...

The US Senate receives the impeachment against Trump, thus beginning his second ‘impeachment’ in a year

Division among Democratic senators over the need to present witnesses during impeachment The United States House of Representatives has sent the Senate on Monday the...