Cisco Systems, Inc. (NASDAQ: CSCO) has reported first quarter financial results. The company has reported revenue of USD 11.9 Billion as net income amounted to USD 2.2 Billion or USD 0.51 per share. “Cisco is off to a solid start in fiscal 2021 and we are encouraged by the signs of improvement in our business as we continue to navigate the pandemic and other macro uncertainties,” said Chuck Robbins, chairman and CEO of Cisco. “Our focus is on winning with a differentiated innovative portfolio, long-term growth and being a trusted technology partner offering choice and flexibility to our customers. We see many great opportunities ahead as every company in every industry is accelerating its digital-first strategy.”
“Our Q1 results reflect good execution with strong margins in a challenging environment,” said Kelly Kramer, CFO of Cisco. “We continued to transform our business through more software offerings and subscriptions, driving 10% year over year growth in remaining performance obligations. We delivered strong growth in operating cash flow and returned $2.3 billion to shareholders.”
Cash Flow from operating activities reached USD 4.1 Billion, a 14% increased compared to the same period a year ago. Deferred revenue hit USD 20.5 Billion.