Cisco Systems Inc. Q1 adjusted earnings Beat Estimates

(RTTNews) - Cisco Systems Inc. (CSCO) announced a profit for first quarter that decreased from last year.

The company's profit totaled $2.17 billion, or $0.51 per share. This compares with $2.93 billion, or $0.68 per share, in last year's first quarter.

Excluding items, Cisco Systems Inc. reported adjusted earnings of $3.21 billion or $0.76 per share for the period.

Analysts had expected the company to earn $0.70 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 9.3% to $11.93 billion from $13.16 billion last year.

Cisco Systems Inc. earnings at a glance:

-Earnings (Q1): $3.21 Bln. vs. $3.61 Bln. last year. -EPS (Q1): $0.76 vs. $0.84 last year. -Analysts Estimate: $0.70 -Revenue (Q1): $11.93 Bln vs. $13.16 Bln last year.

-Guidance: Next quarter EPS guidance: $0.74 - $0.76