There is double digit growth in the CISCO’s security segment and Webex offering
By MYBRANDBOOK
Cisco Systems has seen growth across all its businesses, including its Infrastructure segment, which bounced back as enterprises prioritized return to office transformations and hybrid work. Cisco now has one of the largest software businesses in the industry with an annual run rate business of north of 14 billion dollars in software revenue, said Cisco Chairman and CEO Chuck Robbins.
It further states, During Q3 2021, which ended May 1, the tech giant achieved 3.8 billion dollars in software revenue. Software subscriptions accounted for 81 percent of its total software revenue, up sequentially from Q2 2021’s result of 76 percent, as interest in subscription-based solutions grew.
Cisco had a great quarter with strong demand across the business," said Chuck Robbins, chairman and CEO of Cisco. "We are confident in our strategy and our ability to lead the next phase of the recovery as our customers accelerate their adoption of hybrid work, digital transformation, cloud, and continued strong uptake of our subscription-based offerings."
We remain focused on accelerating innovation while simplifying the adoption of our offerings, with network-wide automation, analytics, and flexible, as a service consumption models, all aimed at improving customers’ network performance capabilities, and security, which we believe will drive tremendous long-term opportunities for us,” Robbins said
"We executed well with strong product orders, and solid growth in revenue, net income, and EPS," said Scott Herren, CFO of Cisco. "Our investments in innovation and accelerated shift to more software offerings and subscriptions led to double-digit growth in deferred revenue, remaining performance obligations and higher levels of recurring revenue."
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