Cisco Systems Inc (NASDAQ:CSCO) stock rose 6.47% (As on August 18, 11:53:35 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the fourth quarter of FY 22. Revenue by geographic segment was: Americas down 3%, EMEA up 8%, and APJC down 2%. Product revenue performance was led by growth in End-to-End Security up 20%, Optimized Application Experiences up 8%, and Collaboration up 2%. Secure, Agile Networks was down 1% and Internet for the Future was down 10%. On a non-GAAP basis, total gross margin, product gross margin, and service gross margin were 63.3%, 61.3%, and 69.0%, respectively, as compared with 65.6%, 65.0%, and 67.4%, respectively, in the fourth quarter of fiscal 2021. Total gross margins by geographic segment were: 62.6% for the Americas, 64.4% for EMEA and 63.6% for APJC. On a non-GAAP basis, net income was $3.4 billion, a decrease of 3%, and EPS was $0.83, a decrease of 1%. Cash Flow from Operating Activities was $3.7 billion for the fourth quarter of fiscal 2022, which reflects a decrease of 18% compared with $4.5 billion for the fourth quarter of fiscal 2021. Cash and Cash Equivalents and Investments was $19.3 billion at the end of the fourth quarter of fiscal 2022, compared with $20.1 billion at the end of the third quarter of fiscal 2022, and compared with $24.5 billion at the end of fiscal 2021. Remaining Performance Obligations (RPO) was $31.5 billion, up 2% in total, with 54% of this amount to be recognized as revenue over the next 12 months. Product RPO were up 6% and service RPO were down 1%. Deferred Revenue was $23.3 billion, up 5% in total, with deferred product revenue up 11%. Deferred service revenue was up 1%.

CSCO in the fourth quarter of FY 22 has reported the adjusted earnings per share of 83 cents, beating the analysts’ estimates for the adjusted earnings per share of 82 cents, according to the Zacks Consensus Estimate. The company had reported flat adjusted revenue growth of $13.1 billion in the fourth quarter of FY 22, beating the analysts’ estimates for revenue by 2.75%.

For the first quarter of FY 23, the company expects revenue to post  2% to 4% growth year over year and Non-GAAP earnings per share to be in the range of $0.82 to $0.84.

For the fiscal 2023, the company expects revenue to post  4% to 6% growth year over year and Non-GAAP earnings per share to be in the range of  $3.49 to $3.56.