Exhibit 99.1

 

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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.”

 

1


The following information was filed by Cisco Systems, Inc. (CSCO) on Wednesday, November 14, 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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