Cisco Systems Inc. reported a profit increase in the first quarter, surpassing Street estimates. Earnings totaled $2.86 billion, or $0.72 per share, up from $2.71 billion, or $0.68 per share, last year. Adjusted earnings were $4.01 billion or $1.00 per share, beating analysts’ average expectation of $0.98 per share. Revenue rose 7.5% to $14.88 billion.

Looking ahead, Cisco provided guidance for the next quarter and full year. Next quarter EPS is expected to be between $1.01 – $1.03, with revenue guidance of $15.0 – $15.2 billion. Full year EPS guidance is set at $4.08 – $4.14, with revenue guidance of $60.2 – $61.0 billion. Cisco’s positive performance reflects a strong start to the fiscal year.

Read more at Nasdaq: Cisco Systems Inc. Q1 Profit Increases, Beats Estimates