CSCO - Cisco Q1 Earnings: Weak Guidance Overshadows Top- And Bottom-Line Beat As New Product Orders Slow | Benzinga
Cisco Systems Inc (NASDAQ: CSCO) reported fiscal first-quarter financial results after the close on Wednesday. Here are the key metrics from the quarter and a look at what's sending shares lower after hours.
Cisco Q1 Earnings: Cisco said first-quarter revenue increased 8% year-over-year to $14.67 billion, which beat the consensus estimate of $14.62 billion, according to Benzinga Pro. The company reported quarterly earnings of $1.11 per share, up 29% year-over-year and ahead of analyst estimates of $1.03 per share.
Total software revenue and software subscription revenues were up 13% year-over-year. Total annualized recurring revenue came in at $24.5 billion, up 5% year-over-year. Remaining performance obligations totaled $34.8 billion, up 12% year-over-year.
Cisco noted ...