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Jan 27, 2024
Cisco Q2 2024 Earnings Report
Cisco's Q2 2024 performance reflected a revenue decrease of 6% year over year, with growth in security, collaboration, and observability, alongside an increased dividend.
Key Takeaways
Cisco reported Q2 2024 revenue of $12.8 billion, a 6% decrease year-over-year. GAAP EPS was $0.65, down 3% year-over-year, while non-GAAP EPS was $0.87, a 1% decrease year-over-year. The company saw revenue growth in security, collaboration, and observability and increased its dividend by 3% to $0.40 per share.
Revenue reached $12.8 billion, a 6% decrease year-over-year.
GAAP EPS was $0.65, down 3% year-over-year, and Non-GAAP EPS was $0.87, down 1% year-over-year.
Security, collaboration, and observability segments experienced revenue growth.
Dividend increased by 3% to $0.40 per share.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Cisco expects revenue between $12.1 billion and $12.3 billion, and non-GAAP EPS between $0.84 and $0.86 for Q3 FY 2024. For fiscal year 2024, Cisco anticipates revenue between $51.5 billion and $52.5 billion, and non-GAAP EPS between $3.68 and $3.74.
Positive Outlook
- Q3 FY 2024 Revenue: $12.1 billion - $12.3 billion
- Q3 FY 2024 Non-GAAP gross margin rate 66% – 67%
- Q3 FY 2024 Non-GAAP operating margin rate 33.5% – 34.5%
- Q3 FY 2024 Non-GAAP EPS $0.84 – $0.86
- FY 2024 Non-GAAP EPS $3.68 – $3.74
Challenges Ahead
- Q3 FY 2024 GAAP EPS $0.51 - $0.56
- FY 2024 Revenue $51.5 billion - $52.5 billion
- Restructuring plan impacting approximately 5% of Cisco's global workforce.
- Expects to recognize pre-tax charges of approximately $800 million from restructuring.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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