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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.
Cisco
Cisco
Cisco Revenue by Segment
Cisco Revenue by Geographic Location
Revenue by Segment
Networking Revenue
CapyFin.comSecurity Revenue
CapyFin.comCollaboration Revenue
CapyFin.comObservability Revenue
CapyFin.comServices Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.comAPJC Revenue
CapyFin.com 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.
- Majority of restructuring actions in Q3 FY 2024, with approximately $500 million of charges.
Revenue & Expenses
Visualization of income flow from segment revenue to net income