Cisco Systems Inc. Q1 Profit Decreases, But Beats Estimates

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(RTTNews) - Cisco Systems Inc. (CSCO) announced earnings for first quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line totaled $2.7 billion, or $0.68 per share. This compares with $3.6 billion, or $0.89 per share, in last year's first quarter.

Excluding items, Cisco Systems Inc. reported adjusted earnings of $3.7 billion or $0.91 per share for the period.

Analysts on average had expected the company to earn $0.87 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 5.6% to $13.841 billion from $14.668 billion last year.

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

-Earnings (Q1): $2.7 Bln. vs. $3.6 Bln. last year. -EPS (Q1): $0.68 vs. $0.89 last year. -Revenue (Q1): $13.841 Bln vs. $14.668 Bln last year.

-Guidance: Next quarter EPS guidance: $0.89 to $0.91 Next quarter revenue guidance: $13.75 - $13.95 Bln Full year EPS guidance: $3.60 to $3.66 Full year revenue guidance: $55.3 - $56.3 Bln