CSCO image

Cisco Systems, Inc. (CSCO) Q1 Earnings Beat; Outlook In-Line

CSCO – Beats Wall Street consensus EPS estimates by $0.01. Revenues in-line.

Cisco Systems, Inc. (NASDAQ:CSCO) late Wednesday posted market-beating fiscal first quarter earnings and offered a solid outlook for Q2.

The San Jose, CA-based networking giant reported Q1 earnings per share (EPS) of $0.61, which was $0.01 better than the Wall Street consensus estimate of $0.60.

Revenues fell 1.7% from last year to $12.14 billion, beating analysts’ view for $12.11 billion. Cisco noted that product revenue was down 3%, while service revenue was up 1%.

Looking ahead, Cisco forecast Q2 EPS of $0.58 to $0.60, which is in-line with Wall Street’s outlook of $0.58. It also sees Q2 revenues gaining 1% to 3% to about $11.70 to $11.93 billion. Analysts are looking for revenues of $11.69 billion in the second quarter.

The company commented via press release:

“Our results in Q1 demonstrate the continued progress we’re making on our strategy,” said Chuck Robbins, CEO of Cisco. “The network has never been more critical to business success. Cisco is delivering more insights and intelligence as we help our customers build highly secure, intelligent platforms for digital business.”

Cisco shares rose more than 3% in after-hours trading Wednesday following the report. Year-to-date, CSCO has gained 16.87%, versus a 16.37% rise in the benchmark S&P 500 index during the same period.

CSCO currently has a POWR Rating of A (Strong Buy), and is ranked #1 of 57 stocks in the Technology – Communication/Networking category.

CSCO at a Glance

CSCO Current POWR Rating™
Overall POWR Rating™
CSCO Current Price $46.35 0.90%
More CSCO Ratings, Data, and News

CSCO Price Reaction

The day of this event (Nov. 15, 2017)
CSCO Closing Price$33.10 0.21%
CSCO Volume31,766,492
46.53% from avg
Leading up to this event
CSCO 1-mo returnN/A%
After this event
CSCO 1-day return5.13%
CSCO 3-day return6.74%
CSCO 5-day return6.61%

CSCO Price Chart

More Cisco Systems, Inc. (CSCO) News View All

Event/Date Symbol News Detail Start Price End Price Change POWR Rating
Loading, please wait...
View All CSCO News
Page generated in 1.2416 seconds.