From Wall Street – Cisco Systems – FY2021-Q1

Some good news, some bad

Current Highlights

  • Quarterly revenues of $11.9 billion, down 9% year-over-year (same rate of decline as last quarter)
  • GAAP net income of $2.2 billion, down 26% year-over-year
  • Product revenue down 9%, and service revenue up 2%
  • 78% of software revenues from subscriptions (no change from last quarter but up 7% Y/Y)
  • Strong growth in Webex
  • Revenue breakdown: 61% Americas, 25% EMEA, 14% APAC

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