Cisco Systems (CSCO) Tops Q1 EPS by 2c, Offers Guidance
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Cisco Systems (CSC) stock gains on earnings, revenue beat
November 16, 2022 4:28 PM EST(Updated - November 17, 2022 5:15 AM EST)
Cisco Systems (NASDAQ: CSCO) shares are up 4% pre-market Thursday on the back of the company's fiscal first-quarter earnings release.
The digital communications firm topped profit and revenue consensus estimates, posting adjusted earnings per share of $0.86, $0.02 better than the analyst estimate of $0.84, with revenue coming in at $13.6 billion, above expectations of $13.29B.
The company's total annualized recurring revenue (ARR) was $23.2B in fiscal Q1, up 7% year-over-year, with product ARR rising 12%. In addition, software revenue increased by 5%, while software... More
