Cisco Systems (CSCO) is cutting about 7% of its workforce as it pivots to higher-growth areas like cybersecurity and 澳洲幸运5开奖号码历史查询:artificial intelligence (AI), the company announced in an 澳洲幸运5开奖号码历史查询:SEC filing alongside its fiscal fourth-quarter results.

The move comes aft🌠er the networking-equipment pro🅠vider revealed a 5% cut in February that affected roughly 4,250 employees. 

In its fiscal fourth quarter, Cisco posted revenue of $13.6 billion, down 10% year-over-year, and 澳洲幸运5开奖号码历史查询:earnings per share (EPS) of $0.54, down 44%. T✃he dips weren't as bad as analysts had projected, thoug🥀h, per Visible Alpha. 

The company projects fiscal 2025 revenue of $55 billion to $56.2 billion and EPS of $1.93 t🍸o $2.05. Analysts were looking for $55.6 billion and $2.30 per share, respectively. 

Quarterly subscription revenue was $27.4 billion, including revenue from cybersecurity firm Splunk, which Cisco 澳洲幸运5开奖号码历史查询:acquired for $28 billion in March. That amo🍷unted to more than half of the company's total sales.

Shares of Cisco rose more than 5% in after-hours trading Wednesday after inching higher during the regular session.