Cisco Q1 revenue falls short as profit drops from last year

The company's fiscal first-quarter profit was down from a year earlier

Cisco Systems missed its revenue forecast and logged a year-over-year profit decline in its fiscal first quarter.

The rare miss for the networking giant, considered one of the bellwethers of the technology industry, came after Cisco announced 4,000 layoffs at the time of its last financial report in August. At that time, the company cited uneven economic conditions in some parts of the world and a streamlining of its organization.

"While our revenue growth was below our expectation, our financials are strong, our strategy is strong and our innovation engine is executing extremely well," Chairman and CEO John Chambers said in a press release.

The company reported US$12.1 billion in revenue, which fell short of the consensus of analysts polled by Thomson Financial, who had expected $12.36 billion.

Cisco earned net income of $2 billion in the quarter, down 4.6 percent from $2.1 billion a year earlier, measured according to generally accepted accounting principles. That came out to $0.37 per share, down from $0.39 per share.

Not counting certain one-time items, Cisco earned $0.53 per share, exceeding analysts' forecast of $0.51 per share.

(More to follow.)

Join the newsletter!

Or

Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.

Tags business issuesNetworkingfinancial resultsCisco Systems

Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Stephen Lawson

IDG News Service
Show Comments

Brand Post

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Emily Tyson

MSI GE63 Raider

If you’re looking to invest in your next work horse laptop for work or home use, you can’t go wrong with the MSI GE63.

Laura Johnston

MSI GS65 Stealth Thin

If you can afford the price tag, it is well worth the money. It out performs any other laptop I have tried for gaming, and the transportable design and incredible display also make it ideal for work.

Andrew Teoh

Brother MFC-L9570CDW Multifunction Printer

Touch screen visibility and operation was great and easy to navigate. Each menu and sub-menu was in an understandable order and category

Louise Coady

Brother MFC-L9570CDW Multifunction Printer

The printer was convenient, produced clear and vibrant images and was very easy to use

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Featured Content

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?