SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Cisco Systems Inc. (CSCO) on Wednesday reported fiscal first-quarter profit of $2.71 billion.
The San Jose, California-based company said it had net income of 68 cents per share. Earnings, adjusted for one-time gains and costs, were 91 cents per share.
The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 87 cents per share.
The seller of routers, switches, software and services posted revenue of $13.84 billion in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $13.76 billion.
For the current quarter ending in January, Cisco expects its per-share earnings to range from 89 cents to 91 cents.
The company said it expects revenue in the range of $13.75 billion to $13.95 billion for the fiscal second quarter.
Cisco expects full-year earnings in the range of $3.60 to $3.66 per share, with revenue ranging from $55.3 billion to $56.3 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CSCO at https://www.zacks.com/ap/CSCO
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