Cisco Systems Inc. Q1 Profit Advances 3%

(RTTNews) - Cisco Systems Inc. (CSCO) released earnings for its first quarter that gained ground compared to the same period last year.

The company said its bottom line totaled $3.10 billion, or $0.61 per share. This was higher than $3.02 billion, or $0.59 per share, in last year's first quarter.

Analysts had expected the company to earn $0.59 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 2.6% to $12.35 billion. This was down from $12.68 billion last year.

Cisco Systems Inc. earnings at a glance:

-Earnings (Q1): $3.10 Bln. vs. $3.02 Bln. last year. -Earnings Growth (Y-o-Y): 2.6% -EPS (Q1): $0.61 vs. $0.59 last year. -EPS Growth (Y-o-Y): 3.4% -Analysts Estimate: $0.59 -Revenue (Q1): $12.35 Bln vs. $12.68 Bln last year. -Revenue Change (Y-o-Y): -2.6%

-Guidance: Next quarter EPS guidance: $0.55 - $0.57