---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-286782"
form_type: "8-K"
ticker: "CSCO"
cik: "0000858877"
company_name: "CISCO SYSTEMS, INC."
filed_at: "2022-11-16T23:59:59+00:00"
generated_at: "2026-06-21T17:52:10.961496+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Cisco Q1 revenue up 6% to $13.6B, Non-GAAP EPS $0.86; announces $600M restructuring plan

## Summary
- GAAP EPS $0.65 (down 7% YoY); Non-GAAP EPS $0.86 (up 5%); revenue $13.6B (+6% YoY).
- Total ARR $23.2B (+7%), product ARR +12%; RPO $30.9B (+3%), 53% to be recognized in 12 months.
- Q2 FY2023 guidance: revenue growth 4.5-6.5% YoY, Non-GAAP EPS $0.84-$0.86; FY2023 guidance raised.
- Restructuring plan: pre-tax charges ~$600M (cash-based) with $300M in Q2 FY2023, $200M in H2.
- Operating cash flow $4.0B (+16% YoY); $2.1B returned to shareholders via buybacks and dividends.

## SEC filing metadata
- accession: 0001193125-22-286782
- form_type: 8-K
- ticker: CSCO
- cik: 0000858877
- company_name: CISCO SYSTEMS, INC.
- filed_at: 2022-11-16T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 2.05, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/858877/000119312522286782/0001193125-22-286782-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/858877/000119312522286782/d385857d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-286782
- JSON: https://secwatch.observer/filing/0001193125-22-286782.json
- Plain text: https://secwatch.observer/filing/0001193125-22-286782.txt

## Key facts
- Earnings Releases
  CISCO SYSTEMS, INC. reported FY2023 results: revenue 4.5% to 6.5% growth year over year, EPS $2.63 to $2.76. Guidance raised.
  - Period: FY2023
  - Revenue: 4.5% to 6.5% growth year over year
  - EPS: $2.63 to $2.76
  - Guidance: raised
  - Result: guidance update
  source text: Cisco expects to achieve the following results for fiscal 2023: FY 2023 Revenue 4.5% - 6.5% growth Y/Y Non-GAAP EPS $3.51 - $3.58 Cisco estimates that GAAP EPS will be $2.63 to $2.76 for fiscal 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/858877/000119312522286782/0001193125-22-286782-index.htm
- Earnings Releases
  CISCO SYSTEMS, INC. reported Q1 FY2023 ended October 29, 2022 results: revenue $13.6 billion, net income $2.7 billion, EPS $0.65.
  - Period: Q1 FY2023 ended October 29, 2022
  - Revenue: $13.6 billion
  - Net income: $2.7 billion
  - EPS: $0.65
  - Result: reported results
  source text: Cisco reported first quarter revenue of $13.6 billion, net income on a generally accepted accounting principles (GAAP) basis of $2.7 billion or $0.65 per share, and non-GAAP net income of $3.5 billion or $0.86 per share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/858877/000119312522286782/0001193125-22-286782-index.htm
- Earnings Releases
  CISCO SYSTEMS, INC. reported Q2 FY2023 results: revenue 4.5% to 6.5% growth year over year, EPS $0.59 to $0.64. Guidance initiated.
  - Period: Q2 FY2023
  - Revenue: 4.5% to 6.5% growth year over year
  - EPS: $0.59 to $0.64
  - Guidance: initiated
  - Result: guidance update
  source text: Cisco expects to achieve the following results for the second quarter of fiscal 2023: Q2 FY 2023 Revenue 4.5% - 6.5% growth Y/Y Non-GAAP gross margin rate 63% - 64% Non-GAAP operating margin rate 31.5% - 32.5% Non-GAAP EPS $0.84 - $0.86 Cisco estimates that GAAP EPS will be $0.59 to $0.64 for the second quarter of fiscal 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/858877/000119312522286782/0001193125-22-286782-index.htm
- Restructurings & Charges
  CISCO SYSTEMS, INC. announced a restructuring with charges of approximately $600 million.
  - Type: restructuring
  - Charge: approximately $600 million
  source text: On November 16, 2022, Cisco announced a restructuring plan in order to rebalance the organization and enable further investment in key priority areas. This rebalancing will include talent movement options and restructuring. Additionally, Cisco will optimize its real estate portfolio, aligned to the broader hybrid work strategy. Cisco will take action under this plan beginning in the second quarter of fiscal 2023. Cisco currently estimates that it will recognize pre-tax charges to its GAAP financial results of approximately $600 million consisting of severance and other one-time termination benefits, real estate-related charges, and other costs.
  evidence_url: https://www.sec.gov/Archives/edgar/data/858877/000119312522286782/0001193125-22-286782-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.