Network gear maker Cisco Systems Inc. (NASDAQ: CSCO) reported a year-over-year decrease in revenue and earnings for the first quarter of 2025. Earnings topped expectations.
The San Jose-headquartered tech firm posted adjusted earnings of $0.91 per share for the October quarter, compared to $1.11 per share in the same period of 2024. Earnings came in above estimates.
Unadjusted net income was $2.7 billion or $0.68 per share in Q1, compared to last year’s profit of $3.6 billion or $0.89 per share. At $13.8 billion, first-quarter revenues were down 6% year-over-year.
“Our customers are investing in critical infrastructure to prepare for AI, and with the breadth of our portfolio, we are uniquely positioned to capitalize on this opportunity,” said Cisco’s CEO Chuck Robbins.