Cisco reported revenue of $12.4 billion for its first quarter of FY 2017. Net income (GAAP) came in at $2.3 billion or $0.46 per share, and non-GAAP net income was $3.1 billion or $0.61 per share.
"We had a good quarter despite a challenging global business environment and we performed well in our priority areas," said Chuck Robbins, CEO, Cisco. "We are leading our customers in their digital transition by providing them with highly secure, automated, and intelligent solutions in the ways they want to consume them. Our innovation pipeline is robust and we are well positioned for the future."
Some highlights:
- Total revenue was $12.4 billion, up 1%, with product revenue down 1% and service revenue up 7%.
- Revenue by geographic segment was: Americas down 1%, EMEA flat, and APJC up 6%.
- Product revenue performance was led by Security and NGN Routing which increased 11% and 6%, respectively. Switching decreased 7%, Collaboration and Data Center each decreased 3%, and Wireless and Service Provider Video each decreased 2%.
- Total gross margin (GAAP) and product gross margin were 63.8% and 63.4%, respectively.
- Headcount decreased by 1,326 to 72,385, compared to the prior quarter.
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