Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Cisco Systems Inc., consolidated income statement

US$ in millions

12 months ended:	Jul 29, 2023	Jul 30, 2022	Jul 31, 2021	Jul 25, 2020	Jul 27, 2019	Jul 28, 2018
Product	43,142)	38,018)	36,014)	35,978)	39,005)	36,709)
Service	13,856)	13,539)	13,804)	13,323)	12,899)	12,621)
Revenue	56,998)	51,557)	49,818)	49,301)	51,904)	49,330)
Product	(16,590)	(14,814)	(13,300)	(13,199)	(14,863)	(14,427)
Service	(4,655)	(4,495)	(4,624)	(4,419)	(4,375)	(4,297)
Cost of sales	(21,245)	(19,309)	(17,924)	(17,618)	(19,238)	(18,724)
Gross margin	35,753)	32,248)	31,894)	31,683)	32,666)	30,606)
Research and development	(7,551)	(6,774)	(6,549)	(6,347)	(6,577)	(6,332)
Sales and marketing	(9,880)	(9,085)	(9,259)	(9,169)	(9,571)	(9,242)
General and administrative	(2,478)	(2,101)	(2,152)	(1,925)	(1,827)	(2,144)
Amortization of purchased intangible assets	(282)	(313)	(215)	(141)	(150)	(221)
Restructuring and other charges	(531)	(6)	(886)	(481)	(322)	(358)
Operating expenses	(20,722)	(18,279)	(19,061)	(18,063)	(18,447)	(18,297)
Operating income	15,031)	13,969)	12,833)	13,620)	14,219)	12,309)
Interest income	962)	476)	618)	920)	1,308)	1,508)
Interest expense	(427)	(360)	(434)	(585)	(859)	(943)
Other income (loss), net	(248)	392)	245)	15)	(97)	165)
Interest and other income (loss), net	287)	508)	429)	350)	352)	730)
Income before provision for income taxes	15,318)	14,477)	13,262)	13,970)	14,571)	13,039)
Provision for income taxes	(2,705)	(2,665)	(2,671)	(2,756)	(2,950)	(12,929)
Net income	12,613)	11,812)	10,591)	11,214)	11,621)	110)

Based on: 10-K (reporting date: 2023-07-29), 10-K (reporting date: 2022-07-30), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-25), 10-K (reporting date: 2019-07-27), 10-K (reporting date: 2018-07-28).

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Income statement item	Description	The company
Revenue	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	Cisco Systems Inc. revenue increased from 2021 to 2022 and from 2022 to 2023.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	Cisco Systems Inc. operating income increased from 2021 to 2022 and from 2022 to 2023.
Income before provision for income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	Cisco Systems Inc. income before provision for income taxes increased from 2021 to 2022 and from 2022 to 2023.
Net income	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	Cisco Systems Inc. net income increased from 2021 to 2022 and from 2022 to 2023.

Cisco Systems Inc. (NASDAQ:CSCO)

Income Statement