Wednesday, November 15, 2017

Cisco posts $12.1 billion in revenue, cash pile grows to $71.6 billion

Cisco reported total revenue of $12.1 billion for the first quarter of its fiscal 2018, down 2%, with product revenue down 3% and service revenue up 1%. Net income GAAP was $2.4 billion or $0.48 per share, and non-GAAP net income of $3.0 billion or $0.61 per share.

"Our results in Q1 demonstrate the continued progress we're making on our strategy," said Chuck Robbins, CEO of Cisco.

Some highlights for the quarter

  • 2% of total revenue was from recurring offers
  • Revenue by geographic segment was: Americas down 1% to $7.350 billion, EMEA down 3% to $2.909 billion,  and APJC down 1% to $1.877 billion. 
  • Product revenue performance was led by Security and Applications, which increased by 8% and 6%, respectively. 
  • Infrastructure Platforms revenue decreased by 4%.
  • The new Catalyst 9000 has been adopted by 1,100 customers in the first three months.
  • Product gross margins were 60.1%, down from 63.4% a year ago
  • Service gross margins were 64.5%, down from 65.1% a year ago
  • Cash and cash equivalents and investments at the end of the quarter were $71.6 billion, of which $2.5 billion was in the United States and the rest abroad.
This quarter, Cisco changed the way it categorizes product revenue. Here's how the classification matches up.


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