Cisco reported non-GAAP earnings of 83 cents a share on revenue of $12.8 billion in the latest completed period. Cisco had been expected to make 82 cents a share, on sales of $12.6 billion, based on a FactSet survey of 27 analysts. In the same period a year ago the company posted earnings of 79 cents a share on sales of $12 billion.
"We are confident in our strategy and our ability to lead the next phase of the recovery as our customers accelerate their adoption of hybrid work, digital transformation, cloud, and continued strong uptake of our subscription-based offerings," said Chuck Robbins, CEO of Cisco, in a statement.
"For his final "Executive Decision" segment, Cramer checked in on...Robbins," Rutt wrote.
"Robbins said that both revenue growth and earnings per share were up in the quarter, with order growth of 10%. This was the highest level of growth the company has seen in a decade," he continued. "When asked about their demand, Robbins explained that companies are investing now as they prepare both for a return to the office and a hybrid work environment for many workers. Customers are also responding to Cisco's many new products, including those that run off their custom-designed silicon."
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