Cisco Systems, Inc. (CSCO) reported better-than-expected fiscal 2023 first-quarter results. The company surpassed Wall Street’s top and bottom-line estimates. CSCO’s revenue of $13.60 billion increased 6% year-over-year and was ahead of Wall Street’s estimate of $13.30 billion. Also, its non-GAAP EPS was $0.86, up 5% year-over-year, beating the consensus estimate of $0.84.
“Our fiscal 2023 is off to a good start as we delivered the largest quarterly revenue and second highest quarterly non-GAAP earnings per share in our history. These results demonstrate the relevance of our strategy, our differentiated innovation, and our unique position to help our customers become more resilient,” said Chuck Robbins, CSCO’s chair and CEO.
