Revenues fell 9% to $12.2B, with declines across all regions, and non-GAAP EPS fell 4% to $0.80.
Security was again a bright spot for revenues (with a 10% gain) but its core infrastructure platforms business dipped by double digits.
The company’s achieved its goal of drawing more than half its revenue from software and services, it says.
“We executed well in Q4, delivering strong margins despite the very challenging environment,” says CFO Kelly Kramer. “Software subscriptions now make up 78% of our software revenue and remaining performance obligations continued to grow strongly in the quarter, reflecting the strength of our portfolio of software and services.”
Revenue by geo: Americas, $7.19B (down 12%); EMEA, $3.11B (down 6%); APJC, $1.86B (down 7%).
Revenue by type: Infrastructure Platforms, $6.63B (down 16%); Applications, $1.36B (down 9%); Security, $814M (up 10%); Other products, $35M (down 17%); Services, $3.32B.
For fiscal Q1 2021, it’s guiding to a revenue decline of 9-11% year-over-year, with gross margin of 64-65%, operating margin of 30-31%, and EPS of $0.69-$0.71 (below consensus for $0.76).
That revenue guidance points to $11.71B-$11.98B, below consensus for $12.29B.
Conference call to come at 4:30 p.m. ET.