11/13/2019, 10:19 PM (Source: TeleTrader)
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Cisco reports EPS of $0.68 in Q1, down 13% YoY

Cisco Systems, Inc. reported on Wednesday that its earnings per share in the first fiscal quarter of 2019 landed at 0.68$, a drop of 13% year-over-year, on attributable net income of $2.92 billion, marking a drop of 17% compared with the last years' first quarter.

The company's top line landed at $13.1 billion in the first quarter and was virtually unchanged compared with gross sales of $13.07 billion last year. Meanwhile, Cisco's total operating expenses reached $4.8 billion, marking a rise of 10% year-over-year.

"We delivered a solid quarter against a challenging macro environment," Chuck Robbins CEO of Cisco stated. "We're focused on continuing to drive innovation, transform our business and exceed our customers' expectations," he underlined.

The company's shares plunged 4.56% in the after-hours trading at 4:23 pm ET following the release of the earnings report.

Breaking the News / GG