Cisco Reports Second Quarter Earnings

• Q2 Revenue: $11.9 billion
  • Increase of 3% year over year
  • Recurring revenue was 33% of total revenue, up 2 points year over year
• Q2 Earnings (Loss) per Share: $(1.78) GAAP; $0.63 non-GAAP
  • GAAP results include an $11.1 billion charge related to the enactment of the Tax Cuts and Jobs Act
• Q3 FY 2018 Guidance:
  • Revenue: 3% to 5% growth year over year
  • Earnings per Share: GAAP: $0.50 to $0.55; Non-GAAP: $0.64 to $0.66

SAN JOSE, Calif., Feb. 14, 2018 (GLOBE NEWSWIRE) -- Cisco (NASDAQ:CSCO) today reported second quarter results for the period ended January 27, 2018. Cisco reported second quarter revenue of $11.9 billion, net loss on a generally accepted accounting principles (GAAP) basis of $(8.8) billion or $(1.78) per share, and non-GAAP net income of $3.1 billion or $0.63 per share. "We had a great quarter which demonstrates that our strategy is working. Our business is growing, we have a fantastic innovation pipeline, our balance sheet is strong and we have a team that's executing incredibly well," said Chuck Robbins, Chairman and CEO, Cisco. "The network is more critical to business success than ever, and our new intent-based networking portfolio has great momentum including the fastest ramping new product in our history." More at https://newsroom.cisco.com/press-release-content?type=webcontent&articleId=1910322