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Cisco beats Q1 targets with broad-based growth

Cisco reported its first quarter financial results Wednesday, beating market expectations.

Non-GAAP earnings got here to 75 cents per share. Income for the quarter was $13.1 billion, a rise of eight p.c year-over-year.

Wall Road was searching for earnings of 72 cents a share on income of $12.87 billion.


“We had a robust begin to fiscal 2019 and we consider our alternative has by no means been larger,” CEO Chuck Robbins mentioned in a press release. “Our clients wish to Cisco as a trusted companion to assist them function in a multi-cloud world and to rework their companies. Our technique is working and we’re effectively positioned with our rising and differentiated portfolio throughout a number of domains to carry our clients a safer, automated and easy IT infrastructure.”

The San Jose, Calif.-based firm mentioned it noticed broad-based development throughout all geographies, product classes and buyer segments. Service income was up three p.c, and Product income was up 9 p.c. Particularly in Product income, Functions was up 18 p.c, Safety, up 11 p.c, and Infrastructure Platforms, up 9 p.c.

Income within the Americas elevated 5 p.c, EMEA income was up 11 p.c, and APJC income elevated 12 p.c.

For Q2, Cisco gave an outlook of earnings between 71 cents and 73 cents per share, with income development between 5 p.c to 7 p.c year-over-year.

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