Cisco 2025 Q1 Earnings Beat Expectations, Raises Full-Year Revenue Forecast to $56.3B

Cisco Systems (CSCO) announced its fiscal first-quarter 2024 results, delivering earnings that outpaced analyst predictions while revising its full-year guidance upward, despite a year-over-year revenue decline.

The technology giant reported a net income of $2.7 billion, or 68 cents per share, down from $3.6 billion, or 89 cents per share in the previous year. However, these figures still exceeded market expectations. Revenue totaled $13.8 billion, marking a 6% decrease compared to the same quarter last year but aligning closely with analyst consensus.

Looking ahead to Q2 2024, Cisco projects revenue between $13.75 billion and $13.95 billion, slightly below the estimated $13.8 billion.

Cisco Elevates 2024 Full-Year Revenue and Earnings Forecast

The company increased its full-year revenue forecast to a range of $55.3 billion to $56.3 billion, up from the previous $55 billion to $56.2 billion. Earnings per share guidance was also raised significantly to between $2.26 and $2.38, compared to the earlier range of $1.93 to $2.05.

This optimistic outlook follows strategic workforce reductions totaling approximately 12% over recent months, aimed at focusing on high-growth sectors such as cybersecurity and artificial intelligence.

Following the earnings release, Cisco’s stock showed minimal movement in after-hours trading but has gained over 17% year-to-date through Wednesday’s close.

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