Cisco's Q1 revenue up 8% YoY to $12.9 billion

Wednesday, 17. November 2021 22:06

Cisco Systems Inc. unveiled on Wednesday that its total revenue for the first quarter of the fiscal year 2022 increased 8% when compared to the same period last year to $12.9 billion.

For the same period, the company noted that its net income rose 37% year-over-year to $3.0 billion. Cisco's diluted earnings per share also saw a 37% per annum growth going from $0.51 to $0.70. Total product growth saw a yearly jump of 33%.

Cisco CEO Chuck Robbins commented on the results: "In Q1, we had robust growth and continued strong demand despite the very dynamic supply environment. Our breakthrough innovation, strong demand, and the success of our business transformation position us well for another year of growth in fiscal 2022."

Cisco shares were down by 6.45% in after-hours trading following the release of the report.

Related Links: Cisco Systems Inc.
Author:
Baha Breaking the News (BBN) / OL