Cisco reported revenue of $11.9 billion for its second quarter of fiscal 2018, net loss on a generally accepted accounting principles (GAAP) basis of $(8.8) billion or $(1.78) per share, and non-GAAP
net income of $3.1 billion or $0.63 per share.
Due to the recently passed tax reform legislation, Cisco took a $11.1 billion charge.
Cisco has declared a quarterly dividend of $0.33 per common share, a 4-cent increase or up 14% over the previous quarter’s dividend.
Cisco’s board of directors has also approved a $25 billion increase to the authorization of the stock repurchase program.
“We had a great quarter which demonstrates that our strategy is working. Our business is growing, we have a fantastic innovation pipeline, our balance sheet is strong and we have a team that’s executing incredibly well,” said Chuck Robbins, Chairman and CEO, Cisco. “The network is more critical to business success than ever, and our new intent-based networking portfolio has great momentum including the fastest ramping new product in our history.”
Some highlights:
GAAP total gross margin and product gross margin were 63.1% and 61.5%, respectively. Product gross margin increased compared with 61.1% in the second quarter of fiscal 2017.
The total customer base for Catalyst 9000 switching platform more than doubled to reach over 3,100.
Product customer segment revenue:
- Enterprise +3%
- Public Sector +8%
- Commercial +14%
- Service Provider (-5%)
Revenue growth by geography:
- Americas +6%
- EMEA +6%
- APJC 0%
There was $5.5 billion in deferred revenue from recurring software subscriptions, up 36% yoy.
