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Exhibit 99.1
Press Contact: | Investor Relations Contact: | |||
Robyn Blum | Marilyn Mora | |||
Cisco | Cisco | |||
1 (408) 930-8548 | 1 (408) 527-7452 | |||
rojenkin@cisco.com | marilmor@cisco.com |
CISCO REPORTS FIRST QUARTER EARNINGS
| Q1 Results: |
| Revenue: $13.1 billion |
| Increase of 8% year over year |
| Earnings per Share: GAAP: $0.77; Non-GAAP: $0.75 |
| Non-GAAP EPS increased 23% year over year |
| Q2 FY 2019 Guidance (normalized to exclude SPVSS business): |
| Revenue: 5% to 7% growth year over year |
| Earnings per Share: GAAP: $0.56 to $0.61; Non-GAAP: $0.71 to $0.73 |
SAN JOSE, Calif. November 14, 2018 Cisco today reported first quarter results for the period ended October 27, 2018. Cisco reported first quarter revenue of $13.1 billion, net income on a generally accepted accounting principles (GAAP) basis of $3.5 billion or $0.77 per share, and
non-GAAP net income of $3.5 billion or $0.75 per share.We had a strong start to fiscal 2019 and we believe our opportunity has never been greater, said Chuck Robbins, chairman and CEO of Cisco. Our customers are looking to Cisco as a trusted partner to help them operate in a multi-cloud world and to transform their businesses. Our strategy is working and we are well positioned with our growing and differentiated portfolio across multiple domains to bring our customers a more secure, automated and simple IT infrastructure.
GAAP Results
Q1 FY 2019 | Q1 FY 2018 | Vs. Q1 FY 2018 | ||||||||||
Revenue |
$ | 13.1 billion | $ | 12.1 billion | 8 | % | ||||||
Net Income |
$ | 3.5 billion | $ | 2.4 billion | 48 | % | ||||||
Diluted Earnings per Share (EPS) |
$ | 0.77 | $ | 0.48 | 60 | % |
Non-GAAP Results
Q1 FY 2019 | Q1 FY 2018 | Vs. Q1 FY 2018 | ||||||||||
Net Income |
$ | 3.5 billion | $ | 3.0 billion | 14 | % | ||||||
EPS |
$ | 0.75 | $ | 0.61 | 23 | % |
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 executed well, with broad-based growth across all of our geographies, product categories and customer segments, and delivered 8% revenue growth and 23% non-GAAP EPS growth, said Kelly Kramer, CFO of Cisco. We are seeing the returns on our investments in innovation as we continue to transform our business model.
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