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Jan 23, 2021
Cisco Q2 2021 Earnings Report
Cisco's Q2 2021 earnings were reported with flat revenue and increased non-GAAP EPS.
Key Takeaways
Cisco reported flat revenue year-over-year at $12.0 billion. GAAP EPS was $0.60, a decrease of 12%, while non-GAAP EPS was $0.79, an increase of 3%. The company saw growth in Security products and made progress in its business transformation to software and subscriptions.
Total product order growth of 1% year over year.
Product revenue strength across Catalyst 9000, Data Center Switching, Security, Wireless and Webex portfolios.
Great progress on business transformation to more software and subscription, with 76% of software revenue sold as a subscription.
Dividend increased 3%.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Cisco expects revenue growth between 3.5% and 5.5% year-over-year for Q3 2021. Non-GAAP EPS is expected to be between $0.80 and $0.82.
Positive Outlook
- Revenue: 3.5% - 5.5% growth Y/Y
- Non-GAAP gross margin rate 65% - 66%
- Non-GAAP operating margin rate 33% - 34%
- Non-GAAP tax provision rate 19%
- Non-GAAP EPS $0.80 - $0.82
Historical Earnings Impact
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Avg. Return Before/After Earnings
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