Cisco Systems, Inc. (CSCO) is a global technology leader that designs, manufactures, and sells Internet Protocol-based networking and other communications technology.
Cisco announced Q1 earnings recently reporting figures that fell short of Wall Street targets for the second-quarter outlook even though they beat Q1 expectations. Excluding certain items, Cisco reported revenue of $13.16 billion, versus $13.09 billion expected. EPS of 84 cents per share was reported versus vs. 81 cents expected. Cisco’s revenue increased by 1% on an annualized basis for the quarter ending October 26.
The company forecasts an EPS of 75 cents to 77 cents excluding certain items with an annual revenue decline of 3% to 5% in the fiscal second quarter.
“As far as what we’d model going forward, we’ve effectively assumed that it will stay as is. I don’t think we haven’t modeled any material further deterioration or improvement I think is what we’ve put forward today,” stated Cisco CEO Chuck Robbins.
Earnings from other segments as reported:
- Infrastructure Platforms, including switches and routers for companies’ data centers, reported $7.54 billion in revenue.
- Cisco’s Applications segment generated $1.50 billion in revenue.
- Security business recorded $815 million ahead of $723.1 million.
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