Cisco Reports Second Quarter Earnings
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News Summary:
Product revenue strength across Catalyst 9000, Data Center Switching, Security, Wireless and Webex portfolios
Great progress on business transformation to more software and subscription, with 76% of software revenue sold as a subscription
Dividend increased 3%
GAAP EPS decreased (12)% year over year
Non-GAAP EPS increased 3% year over year
Q3 Guidance:
Earnings per Share: GAAP: $0.64 to $0.69; Non-GAAP: $0.80 to $0.82
Cisco today reported second quarter results for the period ended January 23, 2021. Cisco reported second quarter revenue of $12.0 billion, net income on a generally accepted accounting principles (GAAP) basis of $2.5 billion or $0.60 per share, and non-GAAP net income of $3.4 billion or $0.79 per share.