With its fiscal first-quarter earnings reported Wednesday, networking giant Cisco Systems Inc. started off the year with a bang.
Cisco’s numbers are always an important industry litmus test because it’s the biggest networking vendor and has the broadest portfolio. How their quarter goes is a general indicator for the direction of the network, collaboration, service provider spending and security.
Cisco Systems Inc. held its annual Partner Summit this week in Las Vegas, bringing together thousands of global partners to exchange ideas and learn about the networking giant’s most recent innovations. Cisco has one of the largest and most diverse partner ecosystems in the information technology industry, with about 90% of the company’s revenue flowing through its partners from more than 150 countries.
Cisco has set an ambitious new goal to provide digital and cybersecurity skills training to 25 million people over the next 10 years, as part of its Networking Academy program, and this year marks the 25th anniversary since Cisco launched “NetAcad” to address the global skills shortage.
Over the last decade, a generational shift has taken place in the enterprise: the move from on-premise data centers to the cloud.
Organizations continue to face the same issues they have always faced in networking, but with much less control due to the distributed nature of data, applications, people, and devices.
This week, network vendor and technology leader Cisco announced its Q3 FY22 earnings results. The company posted revenues of $12.8B, missing consensus estimates by over $500M.
Revenue was essentially flat (+0.3%) year over year. Cisco reported non-GAAP EPS of $0.87, topping the street by a penny. Total gross margin was 65.7%, which was at the high end of Cisco’s guidance.