Cisco said total revenue for the first quarter of fiscal 2025 decreased by 6% from the year-earlier quarter Q1, and by 14% excluding Splunk. Product revenue fell by 9%, while services revenue rose by 6%.

10-QQuarterly reportFiled Nov 19, 2024Period of report Oct 26, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

Cisco said total revenue for the first quarter of fiscal 2025 decreased by 6% from the year-earlier quarter Q1, and by 14% excluding Splunk. Product revenue fell by 9%, while services revenue rose by 6%.
The company said Networking product revenue fell by 23% ($2.1 billion) in Q1, while Security product revenue rose by 100% ($1.0 billion). It attributed the Security increase partly to Splunk products and said that excluding Splunk, Security rose 2%.
Cisco announced a restructuring plan affecting about 7% of its workforce, with estimated pre-tax charges of about $1 billion, the company said, and incurred $665 million of charges in Q1. Operating income as a percentage of revenue fell by 12.2 percentage points, which the company attributed to factors including incremental expenses from Splunk.
Cisco said operating cash flow in Q1 was $3.7 billion, and net commercial paper issuances were $1.0 billion. It also said it paid cash dividends of $1.6 billion and repurchased stock for $2.0 billion. The remaining authorization under its stock repurchase program is about $3.2 billion.

Key figures

Quarter ended October 26, 2024

Revenue: $13.8B
Operating income: $2.4B
Net income: $2.7B
EPS: $0.68
Gross profit: $9.1B
Operating cash flow: $3.7B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Cisco Total Revenue Falls 6% in Fiscal 2025 Q1

Cisco said total revenue for the first quarter of fiscal 2025 decreased by 6% from the year-earlier quarter Q1, and by 14% excluding Splunk. Product revenue fell by 9%, while services revenue rose by 6%.

Source · Based on the MD&A text of the filing

Networking Down 23%, Security Up 100%

The company said Networking product revenue fell by 23% ($2.1 billion) in Q1, while Security product revenue rose by 100% ($1.0 billion). It attributed the Security increase partly to Splunk products and said that excluding Splunk, Security rose 2%.

Source · Based on the MD&A text of the filing

Restructuring Plan and Operating Margin Down 12.2 percentage points

Cisco announced a restructuring plan affecting about 7% of its workforce, with estimated pre-tax charges of about $1 billion, the company said, and incurred $665 million of charges in Q1. Operating income as a percentage of revenue fell by 12.2 percentage points, which the company attributed to factors including incremental expenses from Splunk.

Source · Based on the MD&A text of the filing

Operating Cash Flow $3.7 billion and Shareholder Returns

Cisco said operating cash flow in Q1 was $3.7 billion, and net commercial paper issuances were $1.0 billion. It also said it paid cash dividends of $1.6 billion and repurchased stock for $2.0 billion. The remaining authorization under its stock repurchase program is about $3.2 billion.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

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