Cisco Systems Inc. shared on Wednesday that it booked $13.8 billion in revenue during the opening quarter of its fiscal 2025, with the figure declining by 6% year-over-year.
The company's net income slumped 25% compared to the corresponding trimester last year, landing at $2.7 billion. Its diluted earnings per share dropped 24% to $0.68 in the reported quarter. The California-based technology company upgraded its full-year revenue, projecting it to be in the range of $55.3 billion to $56.3 billion, with GAAP earnings per share expected to move between $2.26 to $2.38 for fiscal 2025.
"Revenue, gross margin, and EPS in Q1 were at the high end or above our guidance range, generating strong operating leverage," CFO Scott Herren stated.
Following the release of the report, Cisco's stock slid by 2.11% in after-hours trading.
