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Key highlights from Cisco (CSCO) Q1 2021 earnings results

Cisco Systems, Inc. (NASDAQ: CSCO) reported first quarter 2021 earnings results today.

Revenue decreased 9% year-over-year to $11.9 billion.

GAAP net income fell 26% to $2.2 billion, or $0.51 per share, compared to last year. Adjusted net income dropped 11% to $3.2 billion, or $0.76 per share, versus last year.

For the second quarter of 2021, Cisco expects revenues to be flat to down 2% year-over-year. GAAP EPS is expected to be $0.55-0.60 while adjusted EPS is expected to be $0.74-0.76.

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