Cisco reported quarterly revenue of $12.4 billion for the period ending 20-January-2019, 7% year over year (normalized to exclude the divested SPVSS business for Q2 FY 2018). GAAP net income was $2.8 billion or $0.63 per share, and non-GAAP net income of $3.3 billion or $0.73 per share.
For Cisco, growth has picked up in EMEA. The enterprise and public sectors are doing well, while the Service Provider segment is the only one currently contracting.
Revenue by geographic segment was: Americas up 7%, EMEA up 8%, and APJC up 5%. Product revenue performance was broad-based with growth in Applications, up 24%, Security, up 18%, and Infrastructure Platforms, up 6%.
Product orders are growing at 8% Y/Y, with the Americas up 7%, EMEA up 11%, and APJC up 6%.
The company reported strong customer uptake for its Catalyst switches and for SD-WAN. Switching sales recorded double-digit growth, routing sales declined, wireless saw double-digit growth, data center server sales declined and security generated double-digit revenue growth.
“We are very pleased with our strong performance in the quarter,” said Chuck Robbins, chairman and CEO of Cisco. “Our teams are executing incredibly well, aggressively transitioning to a software model and accelerating our pace of innovation. We are redefining and connecting every domain of the networking infrastructure to deliver the agility, operational efficiency and security our customers require to embrace multicloud, edge computing and digital transformation.”
Cisco also declared a quarterly dividend of $0.35 per common share, a 2-cent increase or up 6% over the previous quarter’s dividend. Cisco’s board of directors has also approved a $15 billion increase to the authorization of the stock repurchase program.
