Cisco Systems Inc. Q1 Profit Decreases, but beats estimates

(RTTNews) - 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.

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