- Cisco (CSCO) guides on its FQ4 CC for 3%-5% Y/Y FQ1 revenue growth, and FQ1 EPS of $0.50-$0.51. That's somewhat unfavorable to a consensus for 4.9% Y/Y rev. growth and EPS of $0.51.
- Total orders rose 4% Y/Y in FQ4, less than rev. growth of 6%. Americas orders +5% and EMEA +6%, but Asia-Pac/Japan -3%, thanks in part to a 6% drop for China. Cisco says it's seeing an "improving" but nonetheless "mixed" macro environment.
- The company also announces it's cutting 4K jobs (5.5% of its workforce), and expects to record $550M in pre-tax charges related to the move.
- FQ4 results, details
Cisco issues light guidance, cutting 4K jobs; shares now -10.3% AH
Aug 14 2013, 17:07 ET