8-KEarnings & ResultsExhibits & Filings

CISCO SYSTEMS, INC. 8-K Report, Financial Results (Feb 15, 2023)

Filed February 15, 2023For Securities:CSCO

Summary

Cisco Systems, Inc. filed an 8-K on February 15, 2023, to report its fiscal second quarter 2023 financial results for the period ending January 28, 2023. This report primarily furnishes a press release detailing these results. Investors should note that Cisco provides both GAAP and non-GAAP financial measures, with the latter excluding items such as share-based compensation, acquisition-related costs, and Russia-Ukraine war costs, among others. The company believes these non-GAAP measures offer a clearer view of ongoing business trends when analyzed alongside GAAP figures. The press release, furnished as an exhibit, contains specific financial performance data for the quarter. While the 8-K itself doesn't contain the detailed numbers, it directs investors to the exhibit for figures on revenue, earnings per share (EPS), gross margins, and operating margins, both on a GAAP and non-GAAP basis. It also includes forward-looking guidance for future periods, which is crucial for assessing the company's outlook and potential growth trajectory.

Key Highlights

  • 1Cisco Systems reported its fiscal second quarter 2023 results on February 15, 2023.
  • 2The 8-K filing primarily serves to furnish the accompanying press release (Exhibit 99.1) containing the detailed financial results.
  • 3The report emphasizes the use of non-GAAP financial measures alongside GAAP measures to provide a more comprehensive view of operational performance.
  • 4Excluded items in non-GAAP calculations include share-based compensation, amortization of intangibles, acquisition/divestiture costs, and Russia-Ukraine war costs.
  • 5The press release includes forward-looking estimates for gross margin, operating margin, tax provision rate, and EPS on a non-GAAP basis.
  • 6Investors are directed to the furnished press release for specific quarterly financial figures and future guidance.

Frequently Asked Questions

The primary purpose of this 8-K filing is to officially report Cisco's financial results for its fiscal second quarter 2023, which ended on January 28, 2023. It does this by furnishing a press release containing these results as an exhibit.

Cisco presents non-GAAP financial measures alongside GAAP measures because management believes they provide useful information to investors and management regarding financial and business trends. These non-GAAP measures exclude certain items like share-based compensation, acquisition-related costs, and other one-time or non-recurring expenses, which are believed to obscure the company's ongoing operational performance.

The detailed financial results for Cisco's fiscal second quarter 2023, including revenue, earnings per share, and margins, are contained within the press release furnished as Exhibit 99.1 to this 8-K filing. Investors should refer to that exhibit for specific figures.

Yes, the press release furnished with this 8-K includes future estimated ranges for key financial metrics such as gross margin, operating margin, tax provision rate, and EPS on a non-GAAP basis. This guidance is crucial for investors assessing the company's future outlook.