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Cisco's fiscal Q4 adjusted EPS beats estimates

Cisco Systems Inc. reported fiscal fourth-quarter adjusted earnings that narrowly beat analysts' estimates, and the company issued guidance for the current quarter that came in below expectations.

Cisco's non-GAAP EPS for the quarter that ended July 27 amounted to 83 cents, beating the S&P Global Market Intelligence consensus normalized EPS estimate of 82 cents. Adjusted EPS increased 18.6% year over year from 70 cents.

Non-GAAP net income totaled $3.59 billion in the quarter, an increase of 7.8% from $3.33 billion in the prior-year period.

In GAAP terms, net income fell 42% year over year to $2.21 billion, or 51 cents per share, from $3.80 billion, or 81 cents per share.

Quarterly revenue rose year over year to $13.43 billion from $12.84 billion.

In reporting results, Cisco forecast non-GAAP EPS in the range of 80 cents to 82 cents for the fiscal 2020 first quarter, falling short of the S&P Global Market Intelligence consensus normalized EPS estimate of 83 cents.

Cisco also expects to earn between 64 cents and 69 cents in the same quarter on a GAAP basis.

Full fiscal year

For fiscal 2019, Cisco's adjusted EPS totaled $3.10, an increase from $2.60 in the prior year. Non-GAAP net income rose to $13.79 billion from $12.70 billion.

On a GAAP basis, net income grew to $11.62 billion, or $2.61 per share, in the full year, from $110.0 million, or 2 cents per share.

Full-year revenue rose 5.2% on an annual basis, to $51.90 billion from $49.33 billion.