Revenue increased 1 percent to $12.25 billion from $12.09 billion a year ago.
Shares rose more than 2 percent in after-hours trade on the news before turning negative.
"This was our strongest Q1 ever in terms of revenue, non-GAAP operating income, and non-GAAP EPS," wrote Chairman and CEO John Chambers in a release. "We continue to make progress towards becoming the 1 IT company in the world. We are still in a tough environment, but seeing encouraging trends as cities, businesses, governments and schools are becoming more digitized."
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Analysts polled by Wall Street had expected fiscal first-quarter earnings of 52 cents a share on revenue of $12.16 billion, according to a consensus estimate from Thomson Reuters.
Executive vice president and CFO Frank Calderoni recently told the company he will step down, effective January 1, 2015, a release said. The information technology company said it plans to appoint in his place its current senior vice president of business technology and operations finance, Kelly A. Kramer.
Daniel Ives of FBR Capital Markets said the change in the CFO is something the Wall Street would welcome and said he saw more acquisitions coming.