Cisco Systems Inc. Q1 Profit Decreases, but beats estimates

Cisco Systems Inc. (CSCO) revealed earnings for first quarter that decreased from last year but beat the Street estimates.

The company's earnings came in at $2.7 billion, or $0.65 per share. This compares with $3.0 billion, or $0.70 per share, in last year's first quarter.

Excluding items, Cisco Systems Inc. reported adjusted earnings of $3.5 billion or $0.86 per share for the period.

Analysts on average had expected the company to earn $0.84 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 5.4% to $13.6 billion from $12.9 billion last year.

Cisco Systems Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $2.7 Bln. vs. $3.0 Bln. last year.
-EPS (Q1): $0.65 vs. $0.70 last year.
-Analyst Estimates: $0.84
-Revenue (Q1): $13.6 Bln vs. $12.9 Bln last year.

Next quarter EPS guidance: $0.59-$0.64
Full year EPS guidance: $2.63-$2.76

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