Cisco Systems Inc. (CSCO) has reported its first-quarter earnings, showing a decline compared to the previous year but nonetheless surpassing Wall Street expectations.
The company recorded a net income of $2.7 billion, equating to $0.68 per share, down from $3.6 billion, or $0.89 per share, in the same quarter of the previous year.
On an adjusted basis, excluding special items, Cisco reported earnings of $3.7 billion, or $0.91 per share, for the period. This outcome exceeded analysts' consensus forecast of $0.87 per share, as per data collected by Thomson Reuters. It's important to note that analysts' predictions typically exclude extraordinary items.
Furthermore, Cisco's revenue for the quarter experienced a decline of 5.6%, falling to $13.841 billion from $14.668 billion in the prior year.
Key financial highlights for Cisco Systems Inc. (GAAP) include:
- First-quarter earnings: $2.7 billion, compared to $3.6 billion the previous year.
- Earnings per share (EPS) for Q1: $0.68, against $0.89 last year.
- Revenue for Q1: $13.841 billion, compared to $14.668 billion the previous year.
**Outlook:**
- For the next quarter, Cisco anticipates EPS ranging from $0.89 to $0.91.
- Revenue guidance for the next quarter is projected between $13.75 billion and $13.95 billion.
- For the full fiscal year, EPS is expected to range between $3.60 and $3.66, with revenue guidance set between $55.3 billion and $56.3 billion.
