Wiki source code of Cisco Systems

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5 = Summary =
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7 * Cisco designs and sells a broad range of technologies that power the Internet
8 * Cisco Systems is integrating its platforms across networking, security, collaboration, applications and the cloud.
9 * The company's business is organized into the three geographic segments: Americas; Europe, Middle East, and Africa (EMEA); and Asia Pacific, Japan, and China (APJC).
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13 [[image:CSCO0.png||height="381" width="720"]]
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16 Cisco (Nasdaq: CSCO) designs and sells a broad range of technologies that power the Internet
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19 = Recent Developments =
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21 **T-Mobile and Cisco Launch World’s Largest Cloud Native Converged Core Gateway**{{footnote}}https://newsroom.cisco.com/c/r/newsroom/en/us/a/y2022/m12/t-mobile-and-cisco-launch-world-largest-cloud-native-converged-core-gateway.html{{/footnote}}
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23 Dec. 15, 2022; T-Mobile announced it has teamed up with Cisco to launch the world’s largest highly scalable and distributed nationwide cloud native converged core gateway. The Un-carrier has moved all its 5G and 4G traffic to the new cloud native core gateway, which immediately boosted performance for customers with more than a 10% improvement in both speed and latency. It’s like turning two townhouses into a massive mansion by removing walls (or barriers) and then loading that mansion with the latest, groundbreaking technology.
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26 The new converged core gateway also simplifies operations for T-Mobile, allowing the Un-carrier to shift resources with better agility and roll out services like 5G Home Internet. It will also expedite time to market for new 5G and IoT services like network slicing and Voice over 5G (VoNR) by allowing T-Mobile to easily test and deploy new capabilities at scale.
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29 [[image:CSCO1.jpg]]
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32 = Financial Highlights =
33
34 **Q1 FY 2023**
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36 Nov. 16, 2022; Cisco reported first quarter results for the period ended October 29, 2022. Cisco reported first quarter revenue of $13.6 billion, net income on a generally accepted accounting principles (GAAP) basis of $2.7 billion or $0.65 per share, and non-GAAP net income of $3.5 billion or $0.86 per share.{{footnote}}https://newsroom.cisco.com/c/r/newsroom/en/us/a/y2022/m11/cisco-reports-first-quarter-earnings.html{{/footnote}}
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39 Revenue ~-~- Total revenue was up 6% at $13.6 billion, with product revenue up 8% and service revenue was flat. Revenue by geographic segment was: Americas up 5%, EMEA up 11%, and APJC was flat. Product revenue performance was led by growth in Secure, Agile Networks up 12%, End-to-End Security up 9%, and Optimized Application Experiences up 7%. Internet for the Future was down 5% and Collaboration was down 2%.
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42 Gross Margin ~-~-  On a GAAP basis, total gross margin, product gross margin, and service gross margin were 61.2%, 59.2%, and 67.3%, respectively, as compared with 62.4%, 61.5%, and 65.2%, respectively, in the first quarter of fiscal 2022.
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45 On a non-GAAP basis, total gross margin, product gross margin, and service gross margin were 63.0%, 61.0%, and 68.8%, respectively, as compared with 64.5%, 63.8%, and 66.5%, respectively, in the first quarter of fiscal 2022.
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48 Total gross margins by geographic segment were: 63.0% for the Americas, 63.3% for EMEA and 62.3% for APJC.
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51 Operating Expenses ~-~-  On a GAAP basis, operating expenses were $4.8 billion, up 4%, and were 35.3% of revenue. Non-GAAP operating expenses were $4.2 billion, up 5%, and were 31.1% of revenue.
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54 Operating Income ~-~- GAAP operating income was $3.5 billion, up 3%, with GAAP operating margin of 26.0%. Non-GAAP operating income was $4.3 billion, up 1%, with non-GAAP operating margin at 31.8%.
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57 Provision for Income Taxes ~-~- The GAAP tax provision rate was 23.2%. The non-GAAP tax provision rate was 19.0%.
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60 Net Income and EPS ~-~- On a GAAP basis, net income was $2.7 billion, a decrease of 10%, and EPS was $0.65, a decrease of 7%. On a non-GAAP basis, net income was $3.5 billion, an increase of 2%, and EPS was $0.86, an increase of 5%.
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63 Cash Flow from Operating Activities ~-~- $4.0 billion for the first quarter of fiscal 2023, an increase of 16% compared with $3.4 billion for the first quarter of fiscal 2022.
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66 Cash and Cash Equivalents and Investments ~-~- $19.8 billion at the end of the first quarter of fiscal 2023, compared with $19.3 billion at the end of fiscal 2022.
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69 Remaining Performance Obligations (RPO) ~-~- $30.9 billion, up 3% in total, with 53% of this amount to be recognized as revenue over the next 12 months. Product RPO were up 5% and service RPO were up 1%.
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72 Deferred Revenue ~-~- $23.0 billion, up 4% in total, with deferred product revenue up 7%. Deferred service revenue was up 2%.
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75 Capital Allocation ~-~- In the first quarter of fiscal 2023, the company returned $2.1 billion to stockholders through share buybacks and dividends. The company declared and paid a cash dividend of $0.38 per common share, or $1.6 billion, and repurchased approximately 12 million shares of common stock under its stock repurchase program at an average price of $43.76 per share for an aggregate purchase price of $0.5 billion. The remaining authorized amount for stock repurchases under the program is $14.7 billion with no termination date.
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78 **Fiscal 2022 Results**
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80 Revenue ~-~- Total revenue was $51.6 billion, an increase of 3%.{{footnote}}https://newsroom.cisco.com/c/r/newsroom/en/us/a/y2022/m08/cisco-reports-fourth-quarter-and-fiscal-year-2022-earnings.html{{/footnote}}
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83 Net Income and EPS ~-~- On a GAAP basis, net income was $11.8 billion, an increase of 12%, and EPS was $2.82, an increase of 13%. On a non-GAAP basis, net income was $14.1 billion, an increase of 3% compared to fiscal 2021, and EPS was $3.36,  an increase of 4%.
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86 Cash Flow from Operating Activities ~-~- $13.2 billion for fiscal 2022, a decrease of 14% compared with fiscal 2021.
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89 Balance Sheet and Other Financial Highlights
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92 Cash and Cash Equivalents and Investments ~-~- $19.3 billion at the end of the fourth quarter of fiscal 2022, compared with $20.1 billion at the end of the third quarter of fiscal 2022, and compared with $24.5 billion at the end of fiscal 2021.
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95 Remaining Performance Obligations (RPO) ~-~- $31.5 billion, up 2% in total, with 54% of this amount to be recognized as revenue over the next 12 months. Product RPO were up 6% and service RPO were down 1%.
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98 Deferred Revenue ~-~- $23.3 billion, up 5% in total, with deferred product revenue up 11%. Deferred service revenue was up 1%.
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101 Capital Allocation ~-~- In the fourth quarter of fiscal 2022, the company returned $4.0 billion to stockholders through share buybacks and dividends. The company declared and paid a cash dividend of $0.38 per common share, or $1.6 billion, and repurchased approximately 54 million shares of common stock under its stock repurchase program at an average price of $44.02 per share for an aggregate purchase price of $2.4 billion. The remaining authorized amount for stock repurchases under the program is $15.2 billion with no termination date.
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104 [[image:CSCO2.jpg]]
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107 = Company Overview =
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109 Cisco designs and sells a broad range of technologies that power the Internet. Cisco Systems is integrating its platforms across networking, security, collaboration, applications and the cloud. These platforms are designed to help its customers manage more users, devices and things connecting to their networks. This will enable it to provide customers with a highly secure, intelligent platform for their digital business.
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112 The company conduct its business globally and manage its business by geography. The company's business is organized into the following three geographic segments: Americas; Europe, Middle East, and Africa (EMEA); and Asia Pacific, Japan, and China (APJC).
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115 == Products, Solutions, and Services ==
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117 * Networking
118 * Software
119 * Internet of Things (IoT)
120 * Mobility and Wireless
121 * Security
122 * Collaboration
123 * Data Center
124 * Cloud and Computing
125 * Services (CX)
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128 = References =
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130 {{putFootnotes/}}
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