Stocks
Cisco Surges on Best Year Ever, With AI Infrastructure Driving Growth
Cisco Systems has wrapped up its best year ever according to management, with shares surging by 63.15% in value so far this year.
The company's Q4 revenue reached $17.25 billion, a 17.58% increase from the same period last year, and non-GAAP EPS came in at $1.22, exceeding consensus for the fifth consecutive quarter.
Cisco's CEO Chuck Robbins called it 'another record year' for the company, with networking product orders up 40% in Q4, marking the eighth straight quarter of double-digit growth.
The company's forward P/E is 26, which some see as reasonable compared to its peers, such as Arista Networks and Hewlett Packard Enterprise.