A solid quarter with recurring reveneue now 33% of total revenues
Summary of the Earnings Report
Cisco reported revenues of $11.9 billion in its fiscal second quarter, up 3% from the same quarter one year earlier. One of the notable detail points was that recurring revenue was 33% of total revenues, up two points year-over-year. The company continues to make progress on the shift toward more software and recurring revenue. On a GAAP basis, the company reported a loss of $8.8 billion, but that includes an $11.1 billion charge related to the enactment of the tax cuts and jobs act. Other companies are reporting similar effects from this new legislation.
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