- Cisco (CSCO) spent a whopping $1.2B on buybacks in FQ4, up from FQ3's $860M and boosting EPS.
- FQ4 product sales (78% of revenue) +6% Y/Y, up from FQ3's +5%. Services growth fell to 6% from FQ3's 7%.
- Sales/marketing spend -2% Y/Y to $2.36B, R&D +7% to $1.5B.
- FQ4 gross margin was 62.1%, down from FQ3's 63% but slightly above guidance of 61%-62%.
- Expectations were definitely high.
- CC getting started. Guidance should be provided.
- FQ4 results, PR
Cisco -3.9% AH following FQ4 beat, $1.2B spent on buybacks
Aug 14 2013, 16:33 ET