Cisco Q2 2024: Security, Collaboration, And Observability Shine
The Futurum Group, Monday, February 19th, 2024
Cisco reported second quarter (Q2) results for the period ended January 27, 2024. The company reported Q2 revenue of $12.8 billion, net income on a generally accepted accounting principles (GAAP) basis of $2.6 billion or $0.65 per share, and non-GAAP net income of $3.5 billion or $0.87 per share
Analyst Take: Cisco reported $12.8 billion in revenue, down 6% year-over-year (YoY), GAAP earnings per share (EPS) of $0.65, and non-GAAP EPS of $0.87, with revenue growth in security, collaboration, and observability providing silver lining contrast. Cisco CEO and chair, Chuck Robbins, observed that Cisco delivered strong operating leverage and capital returns, aligning the company's investments to future growth opportunities. This includes driving an organization-wide innovation engine throughout an increasingly connected ecosystem that can play an integral role in how customers adopt AI and secure their organizations.