Cisco has reported its first quarter results for the period ended October 27, 2012. The company reported its first quarter net sales of $11.9 billion, net income on a GAAP basis of $2.1 billion or $0.39 per share, and non-GAAP net income of $2.6 billion or $0.48 per share. While for the outlook, the company is predicting quarterly revenue to grow between 3.5 and 5.5 percent by the end of January 2013 with expected non-GAAP earnings to come between 47 to 48 cents a share.
“We delivered record results this quarter — with revenue growth of 6 percent and strong earnings per share growth — demonstrating our vision and strategy are working,” said John Chambers, chairman and chief executive officer, Cisco. “Our innovation engine, operational discipline and on-going evolution are enabling us to differentiate in the market.”