The above graph represents the Cisco net income by quarter, starting from fiscal Q1 1995 to the recently completed quarter. During fiscal Q3 2020, the company reported a notable 8.87% YoY decline in its quarterly net income, amounting to $2,774 million. When compared to the previous quarter, Cisco net income declined 3.6%.
Cisco Quarterly Net Income: History
|Source||Cisco Systems, Inc. SEC Filings|
|Note||Cisco fiscal year starts from August|
As the graph shows, it was fiscal Q4 2018 when Cisco net profit reached an all-time high of $3,803 million, with a strong 56.9% YoY and 41.3% QoQ growth.
Surprisingly, during the second quarter ended on January 27, 2018, Cisco reported a huge net loss of $8,778 million ($8.8 billion), primarily due to the $11.1 billion provisional tax expense related to the Tax Act, comprised of $9.0 billion U.S. transition tax, $1.2 billion of foreign withholding tax, and $0.9 billion of net deferred tax assets re-measurement.
It is important to note that Cisco achieved its first over $1 billion net profit in fiscal Q1 2004. The total net profit surged 75.7% YoY to $1,086 million. However, in the following year, the company’s net profit declined to $724 million.
In just 4 years, the tech giant achieved another milestone; the quarterly net income of Cisco Systems surpassed $2 billion mark for the first time in fiscal Q1 2008.
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