Cisco: Fiscal Q1 Earnings Snapshot

SAN JOSE, Calif. (AP) — SAN JOSE, Calif. (AP) — Cisco Systems Inc. (CSCO) on Thursday reported fiscal first-quarter net income of $4.55 billion.

On a per-share basis, the San Jose, California-based company said it had profit of $1.14. Earnings, adjusted for one-time gains and costs, were $1.40 per share.

The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.33 per share.

The seller of routers, switches, software and services posted revenue of $18.52 billion in the period, also topping Street forecasts. Eight analysts surveyed by Zacks expected $18.13 billion.

For the current quarter ending in January, Cisco expects its per-share earnings to range from $1.34 to $1.36.

The company said it expects revenue in the range of $18 billion to $18.2 billion for the fiscal second quarter.

Cisco expects full-year earnings in the range of $5.47 to $5.53 per share, with revenue ranging from $74.8 billion to $75.8 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