Cisco reported Q1 FY22 total revenue of $12.9 billion, up 8% year-over-year, with product revenue up 11% and service revenue up 1%. Earnings per Share were: GAAP $0.70 and Non-GAAP $0.82. On a GAAP basis, total gross margin, product gross margin, and service gross margin were 62.4%, 61.5%, and 65.2%, respectively.
“In Q1, we had robust growth and continued strong demand despite the very dynamic supply environment,” said Chuck Robbins, Chair and CEO of Cisco. “Cisco’s technology sits at the heart of the accelerated digital transformation happening today. Our breakthrough innovation, strong demand, and the success of our business transformation position us well for another year of growth in fiscal 2022.”
Some highlights:
- Revenue by geographic segment was: Americas up 5%, EMEA up 11%, and APJC up 15%.
- Product revenue performance was led by growth in Secure, Agile Networks up 10%, Internet for the Future up 46%, End-to-End Security up 4%, and Optimized Application Experiences up 18%.
- Hybrid Work was down 7%, as compared with 63.6%, 62.7%, and 65.8%, respectively, in the first quarter of fiscal 2021.
- Software revenue of $3.7 billion, with 80% sold as a subscription
- Cisco noted ongoing supply chain constraints yet said it was able to preserve healthy margins even though it has paid significantly higher logistics costs to get critical components to where they are needed. The company also said it has raised prices to offset its increased costs.
https://investor.cisco.com/events/event-details/2021/Cisco-Q1FY22-Earnings-Conference-Call/default.aspx
