Exhibit 99.1

 

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Press Contact:       Investor Relations Contact:
Robyn Blum       Marilyn Mora
Cisco       Cisco
1 (408) 853-9848       1 (408) 527-7452
rojenkin@cisco.com       marilmor@cisco.com

CISCO REPORTS THIRD QUARTER EARNINGS

 

    Q3 Revenue: $12.5 billion

 

    Increase of 4% year over year

 

    Recurring revenue was 32% of total revenue, up 2 points year over year

 

    Q3 Earnings per Share: $0.56 GAAP; $0.66 non-GAAP

 

    Q4 FY 2018 Guidance:

 

    Revenue: 4% to 6% growth year over year

 

    Earnings per Share: GAAP: $0.55 to $0.60; Non-GAAP: $0.68 to $0.70

SAN JOSE, Calif. — May 16, 2018 — Cisco today reported third quarter results for the period ended April 28, 2018. Cisco reported third quarter revenue of $12.5 billion, net income on a generally accepted accounting principles (GAAP) basis of $2.7 billion or $0.56 per share, and

non-GAAP net income of $3.2 billion or $0.66 per share.

“We are executing well against our strategy, our innovation pipeline has never been stronger, and we continue to make great progress in transforming towards more software and subscriptions,” said Chuck Robbins, Chairman and CEO, Cisco. “I am confident with our position in the industry and the impact we will continue to drive with our customers.”

GAAP Results

 

     Q3 FY 2018      Q3 FY 2017      Vs. Q3 FY 2017  

Revenue

   $ 12.5 billion      $ 11.9 billion        4

Net Income

   $ 2.7 billion      $ 2.5 billion        7

Diluted Earnings per Share (EPS)

   $ 0.56      $ 0.50        12

Non-GAAP Results

 

     Q3 FY 2018      Q3 FY 2017      Vs. Q3 FY 2017  

Net Income

   $ 3.2 billion      $ 3.0 billion             6

EPS

   $ 0.66      $ 0.60        10

Reconciliations between net income, EPS, and other measures on a GAAP and non-GAAP basis are provided in the tables located in the section entitled “Reconciliations of GAAP to non-GAAP Measures.”

“We delivered strong results in Q3 with solid revenue growth of 4% and non-GAAP EPS growth of 10%, said Kelly Kramer, CFO of Cisco. Our investment in innovation and continued execution are paying off. We saw broad-based strength across our portfolio, while continuing to shift our business model and deliver value for shareholders.”

 

1


The following information was filed by Cisco Systems, Inc. (CSCO) on Wednesday, May 16, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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