Income Statement
Quarterly Data
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.
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- Balance Sheet: Assets
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Capital Asset Pricing Model (CAPM)
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Price to Operating Profit (P/OP) since 2005
- Aggregate Accruals
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Cisco Systems Inc., consolidated income statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-04-26), 10-Q (reporting date: 2025-01-25), 10-Q (reporting date: 2024-10-26), 10-K (reporting date: 2024-07-27), 10-Q (reporting date: 2024-04-27), 10-Q (reporting date: 2024-01-27), 10-Q (reporting date: 2023-10-28), 10-K (reporting date: 2023-07-29), 10-Q (reporting date: 2023-04-29), 10-Q (reporting date: 2023-01-28), 10-Q (reporting date: 2022-10-29), 10-K (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-K (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-Q (reporting date: 2021-01-23), 10-Q (reporting date: 2020-10-24), 10-K (reporting date: 2020-07-25), 10-Q (reporting date: 2020-04-25), 10-Q (reporting date: 2020-01-25), 10-Q (reporting date: 2019-10-26), 10-K (reporting date: 2019-07-27), 10-Q (reporting date: 2019-04-27), 10-Q (reporting date: 2019-01-26), 10-Q (reporting date: 2018-10-27).
- Revenue Trends
- The total revenue shows a general upward trajectory over the analyzed periods, with some fluctuations. Product revenue experienced notable dips in early 2020, coinciding with a slight recovery and increased peaks from mid-2021 onwards, reaching a high point in early 2024 before slightly decreasing again. Services revenue demonstrated more stability with gradual growth, peaking around mid-2024, indicating a steady increase in the company's recurring income streams.
- Cost of Sales and Gross Margin
- Cost of sales followed a broadly stable but slightly increasing trend, with some pronounced rises during quarters of higher revenue. Despite fluctuations in cost, gross margin values remained relatively strong and followed revenue increases, peaking notably in mid to late 2023. This suggests effective cost management relative to revenue growth, maintaining profit generation from core operations.
- Operating Expenses
- Operating expenses overall increased, driven by steady rises in research and development, sales and marketing costs, and general and administrative expenses. Research and development saw consistent growth throughout the periods, reflecting ongoing investment in innovation. Sales and marketing expenses also trended upward, indicating sustained efforts in market expansion or product promotion. General and administrative costs fluctuated but gradually increased especially towards the later periods. The amortization of purchased intangible assets spiked significantly during 2023, implying acquisitions or capitalized assets affecting expenses.
- Operating Income
- Operating income exhibited variability, with a declining trend early in the timeline reaching a low around late 2020, followed by recovery and peaks in 2023. A substantial decrease occurred in early 2024, possibly linked to increased operating expenses or other losses. This reflects cyclical performance but overall positive profitability from operations.
- Interest and Other Income (Loss), Net
- Net interest income fluctuated, with interest income showing a rising trend peaking around early 2024, whereas interest expense remained relatively low and stable for most periods but surged significantly in early 2024. Other income/loss net values were inconsistent, with both gains and losses recorded, potentially indicating volatile other operational or investment-related activities affecting net financial income.
- Income Before Taxes and Tax Provision
- Income before taxes generally followed the pattern of operating income, peaking in late 2023 before declining sharply in early 2024. Tax provisions showed variability but stayed significant through most periods, with an unusual tax benefit recorded in late 2024, which may be due to tax adjustments or one-time events.
- Net Income
- Net income trends roughly mirrored income before taxes, with highest profitability observed around late 2023, followed by substantial declines in early 2024. Despite fluctuations, net income remained positive throughout, indicating ongoing profitability, albeit with some challenges emerging in the most recent quarters.
- Additional Observations
- Restructuring and other charges were sporadic with substantial losses in specific quarters, especially around late 2020 and early 2024, likely impacting overall profitability temporarily. The rise in amortization expenses and restructuring charges in recent periods may reflect strategic shifts or acquisition-related costs.