Business News: Cisco Reports First Quarter Earnings

Business News: Cisco Reports First Quarter Earnings

Q1 Results:
Revenue: $13.1 billion – Increase of 8% year over year

Earnings per Share: GAAP: $0.77; Non-GAAP: $0.75 – Non-GAAP EPS increased 23% year over year

Q2 FY 2019 Guidance (normalized to exclude SPVSS business) – Revenue: 5% to 7% growth year over year

Earnings per Share: GAAP: $0.56 to $0.61; Non-GAAP: $0.71 to $0.73

SAN JOSE, CACisco today reported first quarter results for the period ended October 27, 2018.  Cisco reported first quarter revenue of $13.1 billion, net income on a generally accepted accounting principles (GAAP) basis of $3.5 billion or $0.77 per share, and non-GAAP net income of $3.5 billion or $0.75 per share.

“We had a strong start to fiscal 2019 and we believe our opportunity has never been greater,” said Chuck Robbins, chairman and CEO of Cisco.  “Our customers are looking to Cisco as a trusted partner to help them operate in a multi-cloud world and to transform their businesses.  Our strategy is working and we are well positioned with our growing and differentiated portfolio across multiple domains to bring our customers a more secure, automated and simple IT infrastructure.”

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SOURCE: news provided by NEWSROOM.CISCO.COM