Cisco Systems (NASDAQ: CSCO) reported Q4 EPS of $0.80, $0.06 better than the analyst estimate of $0.74. Revenue for the quarter came in at $12.2 billion versus the consensus estimate of $12.08 billion.

"By the end of fiscal 2020, we achieved our goal of more than half of our revenue coming from software and services, and this strategy continues to resonate with customers as they digitize their organizations. Throughout fiscal 2020, Cisco has demonstrated operational resilience based on our strong customer relationships, solid financial foundation, and differentiated innovation," said Chuck Robbins, chairman and CEO of Cisco. "As we focus on the future, we are rebalancing our R&D investments to focus on new areas so we can continue to offer customers the best, most relevant technology in simpler, more easily consumable ways."

GUIDANCE:

Cisco Systems sees Q1 2021 EPS of $0.69-$0.71, versus the consensus of $0.76.

• Revenue: (9)% to (11)% decline year over year

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