Cisco: 5% increase in EPS in the 1st quarter

( – Cisco Systems published on Wednesday evening, for the first three months of its 2022-23 financial year, a non-GAAP EPS up 5% year-on-year, to 86 cents, for a turnover up 6% to $13.6 billion.

“We continued to make progress in transforming our business,” comments CFO Scott Herren, highlighting a 12% increase in annualized recurring revenue (ARR) generated.

“This, coupled with our strong backlog, strong RPO and easing supply situation, gives us great predictability, and supports our increased guidance for the full year,” continued -he.

The network technology provider thus anticipates, for the current financial year, a non-GAAP EPS of between 3.51 and 3.58 dollars (including 84 to 86 cents for the second quarter), as well as a figure of business growth of 4.5 to 6.5%.

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