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300-410 Implementing Cisco Enterprise Advanced Routing and Services (ENARSI)
Exam: Implementing Cisco Enterprise Advanced Routing and Services
The Implementing Cisco Enterprise Advanced Routing and Services v1.0 (ENARSI 300-410) exam is a 90-minute exam associated with the CCNP Enterprise and Cisco Certified Specialist - Enterprise Advanced Infrastructure Implementation certifications. This exam certifies a candidate's knowledge for implementation and troubleshooting of advanced routing technologies and services including Layer 3, VPN services, infrastructure security, infrastructure services, and infrastructure automation. The course, Implementing Cisco Enterprise Advanced Routing and Services, helps candidates to prepare for this exam.
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Cisco
300-410
Implementing Cisco Enterprise Advanced Routing and
Services (ENARSI)
http://killexams.com/pass4sure/exam-detail/300-410 Question: 571
While troubleshooting connectivity issues to a router, these details are noticed:
– Standard pings to all router interfaces, including loopbacks, are successful.
– Data traffic is unaffected.
– SNMP connectivity is intermittent.
– SSH is either or disconnects frequently.
Which command must be configured first to troubleshoot this issue?
A. Show policy-map control-plane
B. Show policy-map
C. Show interface inc drop
D. Show ip route Answer: A Question: 572
Refer to the exhibit.
Which routes from OSPF process 5 are redistributed into EIGRP?
A. E1 and E2 subnets matching access list TO-OSPF
B. E1 and E2 subnets matching prefix list TO-OSPF
C. only E2 subnets matching access list TO-OSPF
D. only E1 subnets matching prefix listTO-OS1 Answer: D Question: 573
Which command allows traffic to load-balance in an MPLS Layer 3 VPN configuration?
A. Multi-paths eibgp 2
B. Maximum-paths ibgp 2
C. Multi-paths 2
D. Maximum-paths 2 Answer: A Question: 574
Which security feature can protect DMVPN tunnels?
A. IPsec
B. TACACS+
C. RTBH
D. RADIUS Answer: A Question: 575
Which command is used to check IP SLA when an interface is suspected to receive lots of traffic with options?
A. show track
B. show threshold
C. show timer
D. show delay Answer: A Question: 576
Users were moved from the local DHCP server to the remote corporate DHCP server. After the move, none of the
users were able to use the network.
Which two issues will prevent this setup from working properly? (Choose two)
A. Auto-QoS is blocking DHCP traffic.
B. The DHCP server IP address configuration is missing locally
C. 802.1X is blocking DHCP traffic
D. The broadcast domain is too large for proper DHCP propagation
E. The route to the new DHCP server is missing Answer: BE Question: 577
Drag and Drop Question
Drag and drop the address from the left onto the correct IPv6 filter purposes on the right. Answer: Question: 578
Refer to the exhibit.
An IP SLA was configured on router R1 that allows the default route to be modified in the event that Fa0/0 losses
reachability with the router R3 Fa0/0 interface.
The route has changed to flow through route R2.
Which debug command is used to troubleshoot this issue?
A. debug ip flow
B. debug ip sla error
C. debug ip routing
D. debug ip packet Answer: C Question: 579
Refer to the exhibit.
A router receiving BGP routing updates from multiple neighbors for routers in AS 690.
What is the reason that the router still sends traffic that is destined to AS 690 to a neighbor other than 10.222.10.1?
A. The local preference value in another neighbor statement is higher than 250.
B. The local preference value should be set to the same value as the weight in the route map.
C. The route map is applied in the wrong direction.
D. The weight value in another statement is higher than 200. Answer: C Question: 580
Which configuration enables the VRF that is labeled `’inet” on FastEthernet0/0?
(A)
(B)
(C)
(D)
A. Option A
B. Option B
C. Option C
D. Option D Answer: D Question: 581
Refer to the exhibit.
During troubleshooting it was discovered that the device is not reachable using a secure web browser.
What is needed to fix the problem?
A. permit tcp port 465.
B. permit tcp port 443
C. permit udp port 465
D. permit tcp port 22 Answer: B Question: 582
Refer to the exhibit.
Users report that IP addresses cannot be acquired from the DHCP server. The DHCP server is configured as shown.
About 300 total nonconcurrent users are using this DHCP server, but none of them are active for more than two hours
per day.
Which action fixes the issue within the current resources?
A. Configure the DHCP lease time to a bigger value
B. Add the network 192.168.2.0 255.255.255.0 command to the DHCP pool
C. Modify the subnet mask to the network 192.168.1.0 255.255.254.0 command in the DHCP pool
D. Configure the DHCP lease time to a smaller value Answer: D Question: 583
White working with software images, an engineer observes that Cisco DNA Center cannot upload its software image
directly from the device.
Why is the image not uploading?
A. The device has lost connectivity to Cisco DNA Center.
B. The software image for the device is in bundle mode
C. The software image for the device is in install mode.
D. The device must be resynced to Cisco DNA Center Answer: C Question: 584
Drag and Drop Question
Drag and drop the MPLS terms from the left onto the correct definitions on the right. Answer:
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https://killexams.com/exam_list/CiscoCisco Networking Academy Helps Veterans With Career Transition Programs
Published 17 hours ago
Submitted by Cisco Systems, Inc.
Defense personnel are often unsung heroes—potentially putting their lives on the line to serve their communities. Giving back to those who choose to serve, or are transitioning out of the armed forces, is clearly the right thing to do. We’re proud that Cisco Networking Academy partners with organizations around the world looking after the unique needs of current and former military service people.
Training-up down under
Soldier On is a not-for-profit organization delivering support services that enable current and former Australian Defence Force personnel—and their families—to lead meaningful civilian lives. It does this by providing psychology support services, employment support, education programs, and community-building activities.
Amy Cooper, CEO of Soldier On, is particularly aware of those needs—her father-in-law and partner are respectively former and current Australian Defence Forces personnel. Amy also sits on the Royal Commission into Defence and Veteran Suicide reference committee, which gives her an even greater insight into the challenges facing current and former veterans and their families.
In Australia, a Royal Commission is a public hearing, independent of government, with broad powers to summon witnesses or seize documents and receive public submissions. The Royal Commission into Defence and Veteran Suicide was established in 2021 to inquire into systemic issues and risk factors relevant to veteran deaths by suicide, or other lived experience of suicide risk factors, and to provide a systemic analysis of the contributing factors. To date, the Commission has received more than 4,000 submissions.
Unique challenges
“One of the interesting pieces that have come out of the Royal Commission is the fact that around 80 percent of the veterans go on to have really successful civilian lives,” says Amy. “Unfortunately, 20 percent face really significant challenges.”
She says this is significant because an increasing number of service people are transitioning out of the armed forces. “Those numbers have traditionally tracked around the 5,000 mark,” she says. “This year it’s anticipated it will be closer to 7,000 people making that transition, and that number has risen over the last three years.”
“We’re also seeing trends with younger veterans discharging, so from an increased number from 25-year-olds right up to mid-30s, which changes the nature of the support that might be required for transitioning veterans.”
Soldier On is supporting around 11,000 service people, veterans, and their families this year, with programs designed to aid with health and wellbeing, employment support, and education, as well as helping make connections within the community.
Values-driven
“What attracts people to serve their nation is often very values-driven,” says Amy. “It’s about being able to serve and support the community and often they’re looking for roles that have that same altruistic service or are an intrinsic value to them.”
“Cisco Networking Academy is a strong part of our mission, particularly for our veterans and family members to thrive,” she says. “It is really focused on that positive aspect of being able to offer practical support through a range of education opportunities that the partnership provides… the courses have been a great opportunity to get many of our participants into the IT industry.”
“The very nature of the program, being very skills directed, provides good options for participants as they balance serving, or starting to think about that transition time, which is often a very busy time with relocating,” says Amy. “I think that’s a tremendous investment in veterans and their families.”
Helping veterans around the world
Soldier On is not alone in its mission to help veterans transition into new careers. In the UK, TechVets is another Cisco Networking Academy partner that helps more than 20 people per month to start new careers in IT. TechVets was founded to address a fast-growing skills gap with the rise of tech, and a national issue with unemployment and underemployment within the British Military Forces community.
And in the US, Cisco—which has consistently been recognized as a Top 10 Military Friendly Employer—has a range of veteran programs to assist veterans transitions into meaningful IT careers, including Onward to Opportunity, a program run by Syracuse University’s D’Aniello Institute for Veterans and Military Families (IVMF) to help service members, veterans, and spouses on their journey to meaningful employment after military service.
IVMF is also a Cisco Networking Academy partner, dedicated to serving military personnel and part of CyberVetsUSA, a fully-sponsored “veterans-first” workforce development initiative, do amazing work helping veterans transition into in-demand tech jobs.
Cisco also runs CX Apprenticeship Programs in the US and India to develop networking skills for non-traditional candidates leading to the opportunity to interview for the highly technical, customer-facing role of a Technical Consulting Engineer in Cisco’s Customer Experience organization. Around a third of the current cohort are veterans.
Cisco Networking Academy success stories
In France, Arnaud found he wasn’t academically-inclined and joined the Army, where he realized that his colleagues’ lives depended on reliable communications. After serving his country, Arnaud knew his future was in IT, and after undertaking Cisco Networking Academy training now works for a French ISP as a Network Engineer.
Vanessa was in the Brazilian Army while doing postgraduate studies in Computer Networks. Unfortunately, that knowledge wasn’t required for her job. After leaving the Army she became interested in cybersecurity, eventually taking the CyberOps Associate course with Cisco Networking Academy and landing a job as a cybersecurity analyst.
Michael joined the fire service to contribute to his community, but was called up twice to serve in Iraq. An injury ultimately ended his firefighting career, leading him to pursue a career in cybersecurity incident response. Through Cisco Networking Academy training, Michael has found a new passion in the field, driven by his commitment to service and continuous learning.
Thu, 16 Nov 2023 04:23:00 -0600entext/htmlhttps://www.csrwire.com/press_releases/788751-cisco-networking-academy-helps-veterans-career-transition-programsCisco offers light guidance as new product orders slow, sending its stock lower
Shares of Cisco Systems Inc. fell more than 11% in extended trading today as the company warned it will likely miss analysts’ expectations in its fiscal second quarter by a wide margin.
The company expects this to have a knock-on effect, and its forecast for the current fiscal year also came in low.
The disappointing guidance came in the wake of a solid earnings beat. The company reported first quarter earnings before certain costs such as stock compensation of $1.11 per share, with revenue up 8% from a year earlier to $14.67 billion. The results were better-than-expected, with analysts looking for earnings of just $1.03 per share on sales of $14.61 billion.
All told, Cisco reported a net income of $3.64 billion for the quarter, up from $2.67 billion a year earlier.
Cisco said its problem is that it has experienced a notable slowdown in new product orders during the quarter. This is because many of its clients are currently busy installing and implementing products that were delivered recently, over the prior three quarters, Cisco Chief Executive Chuck Robbins (pictured) said in a conference call with analysts.
During the COVID-19 pandemic, the company had been stuck with a backlog of unfulfilled orders caused by component shortages. But its supply chain constraints eased rapidly about a year ago as China exited its lockdown strategy, leading to a glut of product deliveries over the last four quarters. Now, customers have their hands full implementing all of those products.
“Our customers and our sales organizations have been very clear with us over the last 90 days that this is the issue,” Robbins said, though he also admitted that sales cycles are still longer than is usually the case.
According to Robbins, “customers are now taking time to onboard and deploy these heightened product deliveries,” hence the slowdown in new orders. He said it’s mainly larger enterprises, service providers and cloud customers that are facing these challenges, adding that the issue was “most pronounced in October.” On average, Cisco’s biggest customers are waiting to implement one to two quarters’ worth of shipped products, he added.
Cisco had a good quarter, but is now suffering from its post pandemic high, when it was finally able to deliver pandemic orders it could not fulfill due to supply chain challenges. Now that it has fulfilled those orders, the demand has weakened as enterprises are implementing and the channel reducing inventories. The good news is all product lines are growing, which has not been too often the case, and Cisco delivered approximately 1B more in profit on roughly 1B more in revenue, which means Chuck Robbins and team have kept costs constant and EPS per share are up a quarter. Let’s see if this trends continues.
Because of these customer issues, Cisco could only offer a much lower forecast than Wall Street analysts had been anticipating. Officials said they’re looking for earnings of between 82 and 84 cents in the second quarter, with revenue of $12.6 billion to $12.8 billion, implying a 7% decline from one year earlier. That compares very badly with the Street’s forecast of 99 cents pre share in earnings and $14.19 billion in sales.
For the full year, Cisco is reducing its revenue forecast while bumping up its view on earnings. The company now sees full-year earnings of between $3.87 and $3.93 on revenue of $53.8 billion to $55 billion. Previously, it had forecast a range of $3.19 to $3.32 in earnings and $57.0 billion to $58.2 billion in revenue. In any case, the new forecast is not great, as Wall Street is hoping for earnings of $4.05 per share on sales of $57.7 billion.
The after-hours stock decline masks the fact that Cisco delivered strong quarterly results, thanks to it finally being able to deliver pandemic-era orders that could not be fulfilled earlier, said Holger Mueller of Constellation Research Inc. “But now those orders have been shipped, it is faced with weakening demand as enterprise implement those products and the channel reduces inventories,” he explained.
Charles King of Pund-IT Inc. said Cisco has been caught on one of those “damned if you do, damned if you don’t situations”, because it did a great job in recovering from the pandemic-related supply chain chaos and has gotten back its manufacturing mojo. However, he said many of its customers have been slower off the mark. “Many are still struggling to deploy and configure the new kit they ordered months ago, so you can’t really blame them for slowing or stopping orders to deal with the backlog,” King said. “But investors appear to be blaming Cisco anyway, for failing to live up to analysts’ consensus. That may be short-sighted, but no one ever said that life, let alone the markets, are fair.”
In the longer term, Cisco’s prospects do look better. During the quarter, it announced that it intends to buy the data analytics and cybersecurity software giant Splunk Inc. in a bumper $28 billion deal, which would be its largest-ever acquisition. The move catapults Cisco, which is best known for its networking gear as well as other data center equipment, to the leading ranks of cybersecurity providers.
Robbins said at the time the deal was announced that the combination of Cisco’s and Splunk’s data would have real value for enterprises, allowing them to “move from threat detection and response to threat prediction and prevention.” He said it will enable Cisco to become one of the world’s largest software companies.
Besides its cybersecurity ambitions, Cisco has a lot of hope for artificial intelligence in the longer term. During the conference call, Robbins told analysts that his company believes it can win more than $1 billion worth of orders in fiscal 2025 for AI infrastructure from cloud providers alone. He said cloud providers are looking to move to “more of a standard, broad-based technology like Ethernet, where they can have multiple sources” to support AI networking workloads.
Mueller said it’s also notable that Cisco is running a tight ship in terms of its business expenditures. “Investors can be pleased that all of Cisco’s product lines grew during the previous quarter, which has not been the case too often,” he added. “That allowed Cisco to deliver approximately $1 billion in profit on almost $15 billion in revenue. That shows Cisco has kept its cost base constant, resulting in increased earnings per share. Cisco needs to continue this trend.”
The after-hours stock decline means that Cisco’s shares are now up just 12% in the year-to-date, trailing the wider S&P 500 index, which is up 17% for the year.
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Wed, 15 Nov 2023 09:55:00 -0600en-UStext/htmlhttps://siliconangle.com/2023/11/15/cisco-offers-light-guidance-new-product-orders-slow-sending-stock-lower/CISCO REPORTS FIRST QUARTER EARNINGS
SAN JOSE, Calif., Nov. 15, 2023 /PRNewswire/ --Â
News Summary:
Strongest first quarter results in Cisco's history in terms of revenue and profitability with $14.7 billion in revenue, up 8% year over year; GAAP EPS $0.89, up 37% year over year, and Non-GAAP EPS $1.11, up 29% year over year
Progress on business model transformation in Q1 FY 2024:
Total software revenue up 13% year over year and software subscription revenue up 13% year over year
Total annualized recurring revenue (ARR) at $24.5 billion, up 5% year over year and product ARR up 10% year over year
Remaining performance obligations (RPO) at $34.8 billion, up 12% year over year and product RPO up 14% year over year
Strong Q1 revenue across Cisco product portfolio, driven by customers' investments in Generative AI, Cloud, Security, and Full Stack Observability
Q1 FY 2024Results:
Revenue:$14.7 billion
Increase of 8% year over year
Earnings per Share: GAAP: $0.89; Non-GAAP: $1.11
GAAP EPS increased 37% year over year
Non-GAAP EPS increased 29% year over year
Q2 FY 2024Guidance:
Revenue:$12.6 billion to $12.8Â billion
Earnings per Share: GAAP: $0.59 to $0.64; Non-GAAP: $0.82 to $0.84
FY 2024 Guidance:
Revenue:$53.8 billion to $55.0Â billion
Earnings per Share: GAAP: $2.97 to $3.08; Non-GAAP: $3.87 to $3.93
Cisco today reported first quarter results for the period ended October 28, 2023. Cisco reported first quarter revenue of $14.7 billion, net income on a generally accepted accounting principles (GAAP) basis of $3.6 billion or $0.89 per share, and non-GAAP net income of $4.5 billion or $1.11 per share.
"We had a solid start to fiscal 2024 with the strongest Q1 results in our history on both revenue and profitability," said Chuck Robbins, chair and CEO of Cisco. "We are confident in the foundational strength of our business and future growth opportunities fueled by AI, Security, Cloud, and Observability."
"In Q1, we delivered revenue and EPS at the high end or above our guidance range, generating strong operating leverage," said Scott Herren, CFO of Cisco. "We also saw double-digit year-over-year growth in software revenue, product ARR and total RPO. After customers implement large amounts of recently shipped product, we expect to see product order growth rates accelerate in the second half of the year. We are committed to delivering operating leverage and increasing capital returns to our shareholders."
GAAP Results
Q1 FY 2024
Q1 FY 2023
Vs. Q1 FY 2023
Revenue
$Â Â Â Â Â Â Â Â 14.7 billion
$Â Â Â Â Â Â Â Â 13.6 billion
8Â %
Net Income
$Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 3.6Â billion
$Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 2.7Â billion
36Â %
Diluted Earnings per Share (EPS)
$Â Â Â Â Â Â Â Â Â Â Â 0.89
$Â Â Â Â Â Â Â Â Â Â Â 0.65
37Â %
Â
Non-GAAP Results
Q1 FY 2024
Q1 FY 2023
Vs. Q1 FY 2023
Net Income
$Â Â Â Â Â Â Â Â Â Â Â Â Â Â 4.5 Â billion
$Â Â Â Â Â Â Â Â Â Â Â Â Â Â 3.5 Â billion
28Â %
EPS
$Â Â Â Â Â Â Â Â Â Â Â 1.11
$Â Â Â Â Â Â Â Â Â Â Â 0.86
29Â %
Reconciliations between net income, EPS, and other measures on a GAAP and non-GAAP basis are provided in the tables located in the section entitled "Reconciliations of GAAP to non-GAAP Measures."
Cisco Declares Quarterly Dividend
Cisco has declared a quarterly dividend of $0.39 per common share to be paid on January 24, 2024, to all stockholders of record as of the close of business on January 4, 2024. Future dividends will be subject to Board approval.
Financial Summary
All comparative percentages are on a year-over-year basis unless otherwise noted.
Q1 FY 2024Â Highlights
Revenue -- Total revenue was $14.7 billion, up 8%, with product revenue up 9% and service revenue up 4%. Revenue by geographic segment was: Americas up 14%, EMEA flat, and APJC was down 3%. Product revenue performance reflected growth in Networking up 10%, Security up 4%, Observability up 21% and Collaboration up 3%.
Gross Margin --Â On a GAAP basis, total gross margin, product gross margin, and service gross margin were 65.2%, 64.5%, and 67.3%, respectively, as compared with 61.2%, 59.2%, and 67.3%, respectively, in the first quarter of fiscal 2023.
On a non-GAAP basis, total gross margin, product gross margin, and service gross margin were 67.1%, 66.5%, and 69.0%, respectively, as compared with 63.0%, 61.0%, and 68.8%, respectively, in the first quarter of fiscal 2023.
Total gross margins by geographic segment were: 66.2% for the Americas, 69.5% for EMEA and 67.0% for APJC.
Operating Expenses --Â On a GAAP basis, operating expenses were $5.3 billion, up 10%, and were 36.0% of revenue. Non-GAAP operating expenses were $4.5 billion, up 5%, and were 30.5% of revenue.
Operating Income --Â GAAP operating income was $4.3 billion, up 21%, with GAAP operating margin of 29.2%. Non-GAAP operating income was $5.4 billion, up 24%, with non-GAAP operating margin at 36.6%.
Provision for Income Taxes --Â The GAAP tax provision rate was 18.1%. The non-GAAP tax provision rate was 19.0%.
Net Income and EPS --Â On a GAAP basis, net income was $3.6 billion, an increase of 36%, and EPS was $0.89, an increase of 37%. On a non-GAAP basis, net income was $4.5 billion, an increase of 28%, and EPS was $1.11, an increase of 29%.
Cash Flow from Operating Activities --Â $2.4 billion for the first quarter of fiscal 2024, a decrease of 40% compared with $4.0 billion for the first quarter of fiscal 2023, primarily due to the timing of tax payments.
Balance Sheet and Other Financial Highlights
Cash and Cash Equivalents and Investments --$23.5 billion at the end of the first quarter of fiscal 2024, compared with $26.1 billion at the end of fiscal 2023.
Remaining Performance Obligations (RPO)Â --$34.8 billion, up 12% in total, with 51% of this amount to be recognized as revenue over the next 12 months. Product RPO were up 14% and service RPO were up 11%.
Deferred Revenue --$25.7 billion, up 11% in total, with deferred product revenue up 12%. Deferred service revenue was up 11%.
Capital Allocation -- In the first quarter of fiscal 2024, we returned $2.8 billion to stockholders through share buybacks and dividends. We declared and paid a cash dividend of $0.39 per common share, or $1.6 billion, and repurchased approximately 23 million shares of common stock under our stock repurchase program at an average price of $54.53 per share for an aggregate purchase price of $1.3 billion. The remaining authorized amount for stock repurchases under the program is $9.7 billion with no termination date.
Acquisitions
In the first quarter of fiscal 2024, our closed acquisitions include:
Accedian, a privately held network performance monitoring company
Working Group Two, a privately held company that developed a cloud native mobile services platform
Oort, Inc., a privately held company focused on identity threat detection and response technology
SamKnows, a privately held broadband network monitoring company
Code BGP, Inc., a privately held border gateway protocol monitoring company
Cisco's Intent to Acquire Splunk
On September 21, 2023, we announced our intent to acquire Splunk Inc., a public cybersecurity and observability company. The acquisition is expected to close by the end of the third quarter of calendar year 2024, subject to regulatory approval and other customary closing conditions including approval by Splunk shareholders.
Guidance
Cisco saw a slowdown of new product orders in the first quarter of fiscal 2024 and believes the primary reason is that customers are currently focused on installing and implementing products in their environments following exceptionally strong product delivery over the past three quarters. Cisco estimates there are one to two quarters of shipped product orders still waiting to be implemented by its customers.
Cisco expects to achieve the following results for the second quarter of fiscal 2024:
Q2 FY 2024
Revenue
$12.6 billion - $12.8Â billion
Non-GAAP gross margin rate
65% – 66%
Non-GAAP operating margin rate
31.5% – 32.5%
Non-GAAP EPS
$0.82 – $0.84
Cisco estimates that GAAP EPS will be $0.59 to $0.64Â for the second quarter of fiscal 2024.
Cisco expects to achieve the following results for fiscal 2024:
FY 2024
Revenue
$53.8 billion - $55.0Â billion
Non-GAAP EPS
$3.87 – $3.93
Cisco estimates that GAAP EPS will be $2.97 to $3.08Â for fiscal 2024.
Our Q2 FY 2024 guidance assumes an effective tax provision rate of 17% for GAAP and 19% for non-GAAP results. Our FY 2024 guidance assumes an effective tax provision rate of 18% for GAAP and 19% for non-GAAP results.
A reconciliation between the Guidance on a GAAP and non-GAAP basis is provided in the tables entitled "GAAP to non-GAAP Guidance" located in the section entitled "Reconciliations of GAAP to non-GAAP Measures."
Editor's Notes:
Q1 fiscal year 2024 conference call to discuss Cisco's results along with its guidance will be held on Wednesday, November 15, 2023 at 1:30 p.m. Pacific Time. Conference call number is 1-888-848-6507 (United States) or 1-212-519-0847 (international).
Conference call replay will be available from 4:00 p.m. Pacific Time, November 15, 2023 to 4:00 p.m. Pacific Time, November 22, 2023 at 1-800-834-5839 (United States) or 1-203-369-3351 (international). The replay will also be available via webcast on the Cisco Investor Relations website at https://investor.cisco.com.
Additional information regarding Cisco's financials, as well as a webcast of the conference call with visuals designed to guide participants through the call, will be available at 1:30 p.m. Pacific Time, November 15, 2023. Text of the conference call's prepared remarks will be available within 24 hours of completion of the call. The webcast will include both the prepared remarks and the question-and-answer session. This information, along with the GAAP to non-GAAP reconciliation information, will be available on the Cisco Investor Relations website at https://investor.cisco.com.
Â
CISCO SYSTEMS, INC.
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per-share amounts)
(Unaudited)Â
Three Months Ended
October 28,
2023
October 29,
2022
REVENUE:
Product
$Â Â Â Â Â Â 11,139
$Â Â Â Â Â Â 10,245
Service
3,529
3,387
Total revenue
14,668
13,632
COST OF SALES:
Product
3,957
4,179
Service
1,154
1,107
Total cost of sales
5,111
5,286
GROSS MARGIN
9,557
8,346
OPERATING EXPENSES:
Research and development
1,913
1,781
Sales and marketing
2,506
2,391
General and administrative
672
565
Amortization of purchased intangible assets
67
71
Restructuring and other charges
123
(2)
Total operating expenses
5,281
4,806
OPERATING INCOME
4,276
3,540
Interest income
360
169
Interest expense
(111)
(100)
Other income (loss), net
(83)
(134)
Interest and other income (loss), net
166
(65)
INCOME BEFORE PROVISION FOR INCOME TAXES
4,442
3,475
Provision for income taxes
804
805
NET INCOME
$Â Â Â Â Â Â Â Â 3,638
$Â Â Â Â Â Â Â Â 2,670
Net income per share:
Basic
$Â Â Â Â Â Â Â Â Â Â 0.90
$Â Â Â Â Â Â Â Â Â Â 0.65
Diluted
$Â Â Â Â Â Â Â Â Â Â 0.89
$Â Â Â Â Â Â Â Â Â Â 0.65
Shares used in per-share calculation:
Basic
4,057
4,108
Diluted
4,087
4,116
Â
CISCO SYSTEMS, INC.
REVENUE BY SEGMENT
(In millions, except percentages)
Three Months Ended
October 28, 2023
Amount
Y/Y %
Revenue:
Americas
$Â Â Â Â Â Â Â Â Â Â 9,022
14Â %
EMEA
3,664
— %
APJC
1,982
(3)Â %
Total
$Â Â Â Â Â Â Â Â 14,668
8Â %
Amounts may not sum and percentages may not recalculate due to rounding.
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CISCO SYSTEMS, INC.
GROSS MARGIN PERCENTAGE BY SEGMENT
(In percentages)
Three Months Ended
October 28, 2023
Gross Margin Percentage:
Americas
66.2Â %
EMEA
69.5Â %
APJC
67.0Â %
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CISCO SYSTEMS, INC.
REVENUE FOR GROUPS OF SIMILAR PRODUCTS AND SERVICES
(In millions, except percentages)
Three Months Ended
October 28, 2023
Amount
Y/Y %
Revenue:
Networking
$Â Â Â Â Â Â Â Â Â Â 8,822
10Â %
Security
1,010
4Â %
Collaboration
1,117
3Â %
Observability
190
21Â %
Total Product
11,139
9Â %
Services
3,529
4Â %
Total
$Â Â Â Â Â Â Â Â 14,668
8Â %
Amounts may not sum and percentages may not recalculate due to rounding.
Effective for the first quarter of fiscal 2024, we began reporting our revenue in the following categories:Â Networking, Security, Collaboration, Observability and Services. The reclassified product category revenue by quarter for fiscal 2021 through fiscal 2023, as well as other information is available on Cisco's Investor Relations website at https://investor.cisco.com/investor-relations/financial-information/Financial-Results/default.aspx.
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CISCO SYSTEMS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions)
(Unaudited)
October 28, 2023
July 29, 2023
ASSETS
Current assets:
Cash and cash equivalents
$Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 9,602
$Â Â Â Â Â Â Â Â Â Â Â Â Â 10,123
Investments
13,921
16,023
Accounts receivable, net of allowance of $82 at October 28, 2023 and $85 at July 29,
2023
4,833
5,854
Inventories
3,342
3,644
Financing receivables, net
3,414
3,352
Other current assets
4,547
4,352
Total current assets
39,659
43,348
Property and equipment, net
2,004
2,085
Financing receivables, net
3,324
3,483
Goodwill
38,900
38,535
Purchased intangible assets, net
1,914
1,818
Deferred tax assets
7,102
6,576
Other assets
5,879
6,007
TOTAL ASSETS
$Â Â Â Â Â Â Â Â Â Â Â Â Â 98,782
$Â Â Â Â Â Â Â Â Â Â Â 101,852
LIABILITIES AND EQUITY
Current liabilities:
Short-term debt
$Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 990
$Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 1,733
Accounts payable
2,084
2,313
Income taxes payable
2,380
4,235
Accrued compensation
3,039
3,984
Deferred revenue
13,812
13,908
Other current liabilities
4,730
5,136
Total current liabilities
27,035
31,309
Long-term debt
6,660
6,658
Income taxes payable
5,790
5,756
Deferred revenue
11,847
11,642
Other long-term liabilities
2,240
2,134
Total liabilities
53,572
57,499
Total equity
45,210
44,353
TOTAL LIABILITIES AND EQUITY
$Â Â Â Â Â Â Â Â Â Â Â Â Â 98,782
$Â Â Â Â Â Â Â Â Â Â Â 101,852
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CISCO SYSTEMS, INC.
CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions)
(Unaudited)
Three Months Ended
October 28, 2023
October 29, 2022
Cash flows from operating activities:
Net income
$Â Â Â Â Â Â Â Â Â Â Â Â Â 3,638
$Â Â Â Â Â Â Â Â Â Â Â Â Â 2,670
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation, amortization, and other
401
415
Share-based compensation expense
661
496
Provision (benefit) for receivables
4
7
Deferred income taxes
(513)
(366)
(Gains) losses on divestitures, investments and other, net
89
131
Change in operating assets and liabilities, net of effects of acquisitions and divestitures:
Accounts receivable
979
1,119
Inventories
307
(108)
Financing receivables
25
556
Other assets
(290)
(316)
Accounts payable
(235)
42
Income taxes, net
(1,773)
20
Accrued compensation
(908)
(384)
Deferred revenue
259
(78)
Other liabilities
(273)
(242)
Net cash provided by operating activities
2,371
3,962
Cash flows from investing activities:
Purchases of investments
(1,850)
(1,943)
Proceeds from sales of investments
1,280
407
Proceeds from maturities of investments
2,497
971
Acquisitions, net of cash and cash equivalents acquired and divestitures
(876)
—
Purchases of investments in privately held companies
(13)
(48)
Return of investments in privately held companies
47
10
Acquisition of property and equipment
(134)
(176)
Other
1
(20)
Net cash provided by (used in) provided by investing activities
952
(799)
Cash flows from financing activities:
Repurchases of common stock - repurchase program
(1,300)
(556)
Shares repurchased for tax withholdings on vesting of restricted stock units
(153)
(108)
Short-term borrowings, original maturities of 90 days or less, net
—
(602)
Repayments of debt
(750)
—
Dividends paid
(1,580)
(1,560)
Other
(17)
(29)
Net cash used in financing activities
(3,800)
(2,855)
Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and
restricted cash equivalents
(45)
(95)
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents
(522)
213
Cash, cash equivalents, restricted cash and restricted cash equivalents, beginning of period
11,627
8,579
Cash, cash equivalents, restricted cash and restricted cash equivalents, end of period
$Â Â Â Â Â Â 11,105
$Â Â Â Â Â Â Â Â Â Â Â Â Â 8,792
Supplemental cash flow information:
Cash paid for interest
$Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 128
$Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â Â 114
Cash paid for income taxes, net
$Â Â Â Â Â Â Â Â Â Â Â Â Â 3,090
$Â Â Â Â Â Â Â Â Â Â Â Â Â 1,150
Â
CISCO SYSTEMS, INC.
REMAINING PERFORMANCE OBLIGATIONS
(In millions, except percentages)
October 28, 2023
July 29, 2023
October 29, 2022
Amount
Y/Y%
Amount
Y/Y%
Amount
Y/Y%
Product
$Â Â Â 16,011
14Â %
$Â Â Â 15,802
12Â %
$Â Â Â 14,013
5Â %
Service
18,742
11Â %
19,066
9Â %
16,897
1Â %
Total
$Â Â Â 34,753
12Â %
$Â Â Â 34,868
11Â %
$Â Â Â 30,910
3Â %
We expect 51% of total RPO at October 28, 2023 will be recognized as revenue over the next 12 months.
Â
CISCO SYSTEMS, INC.
DEFERRED REVENUE
(In millions)
October 28,
2023
July 29,
2023
October 29,
2022
Deferred revenue:
Product
$Â Â Â Â Â Â 11,689
$Â Â Â Â Â Â 11,505
$Â Â Â Â Â Â 10,404
Service
13,970
14,045
12,615
Total
$Â Â Â Â Â Â 25,659
$Â Â Â Â Â Â 25,550
$Â Â Â Â Â Â 23,019
Reported as:
Current
$Â Â Â Â Â Â 13,812
$Â Â Â Â Â Â 13,908
$Â Â Â Â Â Â 12,578
Noncurrent
11,847
11,642
10,441
Total
$Â Â Â Â Â Â 25,659
$Â Â Â Â Â Â 25,550
$Â Â Â Â Â Â 23,019
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CISCO SYSTEMS, INC.
DIVIDENDS PAID AND REPURCHASES OF COMMON STOCK
(In millions, except per-share amounts)
DIVIDENDS
STOCK REPURCHASE PROGRAM
TOTAL
Quarter Ended
Per Share
Amount
Shares
Weighted-
Average Price
per Share
Amount
Amount
Fiscal 2024
October 28, 2023
$Â Â Â Â Â Â Â Â Â Â Â Â 0.39
$Â Â Â Â Â Â Â Â Â 1,580
23
$Â Â Â Â Â Â Â Â Â 54.53
$Â Â Â Â Â Â 1,252
$Â Â Â Â Â Â Â Â Â 2,832
Fiscal 2023
July 29, 2023
$Â Â Â Â Â Â Â Â Â Â Â Â 0.39
$Â Â Â Â Â Â Â Â Â 1,589
25
$Â Â Â Â Â Â Â Â Â 50.49
$Â Â Â Â Â Â 1,254
$Â Â Â Â Â Â Â Â Â 2,843
April 29, 2023
$Â Â Â Â Â Â Â Â Â Â Â Â 0.39
$Â Â Â Â Â Â Â Â Â 1,593
25
$Â Â Â Â Â Â Â Â Â 49.45
$Â Â Â Â Â Â 1,259
$Â Â Â Â Â Â Â Â Â 2,852
January 28, 2023
$Â Â Â Â Â Â Â Â Â Â Â Â 0.38
$Â Â Â Â Â Â Â Â Â 1,560
26
$Â Â Â Â Â Â Â Â Â 47.72
$Â Â Â Â Â Â 1,256
$Â Â Â Â Â Â Â Â Â 2,816
October 29, 2022
$Â Â Â Â Â Â Â Â Â Â Â Â 0.38
$Â Â Â Â Â Â Â Â Â 1,560
12
$Â Â Â Â Â Â Â Â Â 43.76
$Â Â Â Â Â Â Â Â Â Â Â Â Â 502
$Â Â Â Â Â Â Â Â Â 2,062
Â
CISCO SYSTEMS, INC.
RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES
GAAP TO NON-GAAP NET INCOME
(In millions)
Three Months Ended
October 28, 2023
October 29, 2022
GAAP net income
$Â Â Â Â Â Â Â Â Â Â 3,638
$Â Â Â Â Â Â Â Â Â Â 2,670
Adjustments to cost of sales:
Share-based compensation expense
103
81
Amortization of acquisition-related intangible assets
181
153
Acquisition-related/divestiture costs
—
2
Total adjustments to GAAP cost of sales
284
236
Adjustments to operating expenses:
Share-based compensation expense
550
415
Amortization of acquisition-related intangible assets
67
71
Acquisition-related/divestiture costs
75
75
Russia-Ukraine war costs
(2)
3
Significant asset impairments and restructurings
123
(2)
Total adjustments to GAAP operating expenses
813
562
Adjustments to interest and other income (loss), net:
(Gains) and losses on investments
51
109
Total adjustments to GAAP interest and other income (loss), net
51
109
Total adjustments to GAAP income before provision for income taxes
1,148
907
Income tax effect of non-GAAP adjustments
(258)
(192)
Significant tax matters
—
164
Total adjustments to GAAP provision for income taxes
(258)
(28)
Non-GAAP net income
$Â Â Â Â Â Â Â Â Â Â 4,528
$Â Â Â Â Â Â Â Â Â Â 3,549
Â
CISCO SYSTEMS, INC.
RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES
GAAP TO NON-GAAP EPS
Three Months Ended
October 28, 2023
October 29, 2022
GAAP EPS
$Â Â Â Â Â Â Â Â Â Â Â Â Â 0.89
$Â Â Â Â Â Â Â Â Â Â Â Â Â 0.65
Adjustments to GAAP:
Share-based compensation expense
0.16
0.12
Amortization of acquisition-related intangible assets
0.06
0.05
Acquisition-related/divestiture costs
0.02
0.02
Significant asset impairments and restructurings
0.03
—
(Gains) and losses on investments
0.01
0.03
Income tax effect of non-GAAP adjustments
(0.06)
(0.05)
Significant tax matters
—
0.04
Non-GAAP EPS
$Â Â Â Â Â Â Â Â Â Â Â Â Â 1.11
$Â Â Â Â Â Â Â Â Â Â Â Â Â 0.86
Amounts may not sum due to rounding.
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CISCO SYSTEMS, INC.
RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES
GROSS MARGINS, OPERATING EXPENSES, OPERATING MARGINS, INTEREST AND OTHER INCOME (LOSS), NET,Â
AND NET INCOME
(In millions, except percentages)
Three Months Ended
October 28, 2023
Product
Gross
Margin
Service
Gross
Margin
Total
Gross
Margin
Operating
Expenses
Y/Y
Operating
Income
Y/Y
Interest
and
other
income
(loss),
net
Net
Income
Y/Y
GAAP amount
$Â 7,182
$Â 2,375
$Â 9,557
$ 5,281
10Â %
$ 4,276
21Â %
$Â 166
$Â 3,638
36Â %
% of revenue
64.5Â %
67.3Â %
65.2Â %
36.0Â %
29.2Â %
1.1Â %
24.8Â %
Adjustments to GAAP amounts:
Share-based compensation expense
42
61
103
550
653
—
653
Amortization of acquisition-related
intangible assets
181
—
181
67
248
—
248
Acquisition/divestiture-related costs
—
—
—
75
75
—
75
Significant asset impairments and
restructurings
—
—
—
123
123
—
123
Russia-Ukraine war costs
—
—
—
(2)
(2)
—
(2)
(Gains) and losses on investments
—
—
—
—
—
51
51
Income tax effect/significant tax
matters
—
—
—
—
—
—
(258)
Non-GAAP amount
$Â 7,405
$Â 2,436
$Â 9,841
$ 4,468
5Â %
$ 5,373
24Â %
$Â 217
$Â 4,528
28Â %
% of revenue
66.5Â %
69.0Â %
67.1Â %
30.5Â %
36.6Â %
1.5Â %
30.9Â %
Â
Three Months Ended
October 29, 2022
Product
Gross
Margin
Service
Gross
Margin
Total
Gross
Margin
Operating
Expenses
Operating
Income
Interest
and
other
income
(loss),
net
Net
Income
GAAP amount
$Â Â 6,066
$Â Â 2,280
$Â Â 8,346
$Â Â 4,806
$Â Â 3,540
$Â Â Â Â Â Â (65)
$Â Â 2,670
% of revenue
59.2Â %
67.3Â %
61.2Â %
35.3Â %
26.0Â %
(0.5)Â %
19.6Â %
Adjustments to GAAP amounts:
Share-based compensation expense
31
50
81
415
496
—
496
Amortization of acquisition-related
intangible assets
153
—
153
71
224
—
224
Acquisition/divestiture-related costs
2
—
2
75
77
—
77
Significant asset impairments and
restructurings
—
—
—
(2)
(2)
—
(2)
Russia-Ukraine war costs
—
—
—
3
3
—
3
(Gains) and losses on investments
—
—
—
—
—
109
109
Income tax effect/significant tax
matters
—
—
—
—
—
—
(28)
Non-GAAP amount
$Â Â 6,252
$Â Â 2,330
$Â Â 8,582
$Â Â 4,244
$Â Â 4,338
$Â Â Â Â Â Â Â 44
$Â Â 3,549
% of revenue
61.0Â %
68.8Â %
63.0Â %
31.1Â %
31.8Â %
0.3Â %
26.0Â %
Amounts may not sum and percentages may not recalculate due to rounding.
Â
CISCO SYSTEMS, INC.
RECONCILIATIONS OF GAAP TO NON-GAAP MEASURES
EFFECTIVE TAX RATE
(In percentages)
Three Months Ended
October 28,
2023
October 29,
2022
GAAP effective tax rate
18.1Â %
23.2Â %
Total adjustments to GAAP provision for income taxes
0.9Â %
(4.2)Â %
Non-GAAP effective tax rate
19.0Â %
19.0Â %
Â
GAAP TO NON-GAAP GUIDANCE
Q2 FY 2024
Gross Margin
Rate
Operating Margin
Rate
Earnings per
Share (1)
GAAP
62.5% – 63.5%
22.5% – 23.5%
$0.59 – $0.64
Estimated adjustments for:
Share-based compensation expense
1.0Â %
6.0Â %
$0.14 – $0.15
Amortization of acquisition-related intangible assets and acquisition/divestiture-related costs
1.5Â %
2.5Â %
$0.05 – $0.06
Significant asset impairments and restructurings
—
0.5Â %
$0.01 – $0.02
Non-GAAP
65% – 66%
31.5% – 32.5%
$0.82 – $0.84
Â
FY 2024
Earnings per
Share (1)
GAAP
$2.97 – $3.08
Estimated adjustments for:
Share-based compensation expense
$0.59 – $0.61
Amortization of acquisition-related intangible assets and acquisition/divestiture-related costs
$0.22 – $0.24
Significant asset impairments and restructurings
$0.03 – $0.04
(Gains) and losses on investments
$0.01
Non-GAAP
$3.87 – $3.93
(1)Â Estimated adjustments to GAAP earnings per share are shown after income tax effects.
Except as noted above, this guidance does not include the effects of any future acquisitions/divestitures, asset impairments, Russia-Ukraine war costs, restructurings, (gains) and losses on investments and significant tax matters or other events, which may or may not be significant unless specifically stated.
Forward Looking Statements, Non-GAAP Information and Additional Information This release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements regarding future events (such as our confidence in the strength of our business, future growth opportunities in AI, Security, Cloud, and Observability, product order growth rates, and our commitment to delivering operating leverage and increasing capital returns to our shareholders) and the future financial performance of Cisco (including the guidance for Q2 FY 2024 and full year FY 2024) that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results due to a variety of factors, including: business and economic conditions and growth trends in the networking industry, our customer markets and various geographic regions; global economic conditions and uncertainties in the geopolitical environment; our development and use of artificial intelligence; overall information technology spending; the growth and evolution of the Internet and levels of capital spending on Internet-based systems; variations in customer demand for products and services, including sales to the service provider market and other customer markets; the return on our investments in certain priorities, key growth areas, and in certain geographical locations, as well as maintaining leadership in Networking and services; the timing of orders and manufacturing and customer lead times; supply constraints; changes in customer order patterns or customer mix; insufficient, excess or obsolete inventory; variability of component costs; variations in sales channels, product costs or mix of products sold; our ability to successfully acquire businesses and technologies and to successfully integrate and operate these acquired businesses and technologies; our ability to achieve expected benefits of our partnerships; increased competition in our product and service markets, including the data center market; dependence on the introduction and market acceptance of new product offerings and standards; rapid technological and market change; manufacturing and sourcing risks; product defects and returns; litigation involving patents, other intellectual property, antitrust, stockholder and other matters, and governmental investigations; our ability to achieve the benefits of restructurings and possible changes in the size and timing of related charges; cyber attacks, data breaches or other incidents; vulnerabilities and critical security defects; our ability to protect personal data; evolving regulatory uncertainty; terrorism; natural catastrophic events (including as a result of global climate change); any pandemic or epidemic; our ability to achieve the benefits anticipated from our investments in sales, engineering, service, marketing and manufacturing activities; our ability to recruit and retain key personnel; our ability to manage financial risk, and to manage expenses during economic downturns; risks related to the global nature of our operations, including our operations in emerging markets; currency fluctuations and other international factors; changes in provision for income taxes, including changes in tax laws and regulations or adverse outcomes resulting from examinations of our income tax returns; potential volatility in operating results; and other factors listed in Cisco's most accurate report on Form 10-K filed on September 7, 2023. The financial information contained in this release should be read in conjunction with the consolidated financial statements and notes thereto included in Cisco's most accurate report on Form 10-K as it may be amended from time to time. Cisco's results of operations for the three months ended October 28, 2023 are not necessarily indicative of Cisco's operating results for any future periods. Any projections in this release are based on limited information currently available to Cisco, which is subject to change. Although any such projections and the factors influencing them will likely change, Cisco will not necessarily update the information, since Cisco will only provide guidance at certain points during the year. Such information speaks only as of the date of this release.
This release includes non-GAAP net income, non-GAAP gross margins, non-GAAP operating expenses, non-GAAP operating income and margin, non-GAAP effective tax rates, non-GAAP interest and other income (loss), net, and non-GAAP net income per share data for the periods presented. It also includes future estimated ranges for gross margin, operating margin, tax provision rate and EPS on a non-GAAP basis.
These non-GAAP measures are not in accordance with, or an alternative for, measures prepared in accordance with generally accepted accounting principles and may be different from non-GAAP measures used by other companies. In addition, these non-GAAP measures are not based on any comprehensive set of accounting rules or principles. Cisco believes that non-GAAP measures have limitations in that they do not reflect all of the amounts associated with Cisco's results of operations as determined in accordance with GAAP and that these measures should only be used to evaluate Cisco's results of operations in conjunction with the corresponding GAAP measures.
Cisco believes that the presentation of non-GAAP measures when shown in conjunction with the corresponding GAAP measures, provides useful information to investors and management regarding financial and business trends relating to its financial condition and its historical and projected results of operations.
For its internal budgeting process, Cisco's management uses financial statements that do not include, when applicable, share-based compensation expense, amortization of acquisition-related intangible assets, acquisition-related/divestiture costs, significant asset impairments and restructurings, significant litigation settlements and other contingencies, Russia-Ukraine war costs, gains and losses on investments, the income tax effects of the foregoing and significant tax matters. Cisco's management also uses the foregoing non-GAAP measures, in addition to the corresponding GAAP measures, in reviewing the financial results of Cisco. In prior periods, Cisco has excluded other items that it no longer excludes for purposes of its non-GAAP financial measures. From time to time in the future there may be other items that Cisco may exclude for purposes of its internal budgeting process and in reviewing its financial results. For additional information on the items excluded by Cisco from one or more of its non-GAAP financial measures, refer to the Form 8-K regarding this release furnished today to the Securities and Exchange Commission.
Annualized recurring revenue represents the annualized revenue run-rate of active subscriptions, term licenses, operating leases and maintenance contracts at the end of a reporting period, net of rebates to customers and partners as well as certain other revenue adjustments. Includes both revenue recognized ratably as well as upfront on an annualized basis.
About Cisco
Cisco CSCO is the worldwide technology leader that securely connects everything to make anything possible. Our purpose is to power an inclusive future for all by helping our customers reimagine their applications, power hybrid work, secure their enterprise, transform their infrastructure, and meet their sustainability goals. Discover more at The Newsroom and follow us on X at @Cisco.
Wed, 15 Nov 2023 02:05:00 -0600entext/htmlhttps://www.benzinga.com/pressreleases/23/11/n35814857/cisco-reports-first-quarter-earningsCisco changes up incentive program
Chuck Robbins (Cisco)
Credit: Cisco
Cisco has revealed new features, enhancements and tools for partners as it embarks on the biggest change to its incentive program.Â
The networking giant has initiated a significant evolution of its flagship incentives to reward partners for selling Cisco hardware, software, and as-a-service solutions. It is also adding six new solution specialisations within the next nine months.
The Cisco Partner Incentive will combine elements from several incentives such as VIP 42; CSPP and Lifecycle Incentives into one integrated view.
It will focus on rewarding partners with rebates to drive predictable and profitable growth and will specifically support new logo acquisition, up-sell, and cross-sell opportunities.Â
“The Cisco Partner Incentive is the biggest change we’ve made to partner incentives in more than a decade and is the capstone on the Cisco Partner Program evolution started in 2020,” Cisco vice president of partner strategy and programs Marc Surplus said.Â
“Our partners will make money in year one, they will also make money in year two and year three…. and that is what is driving their growth in their practices and more recurring revenue."
Specifically, the new incentive will cover three tracks - non-recurring offers; recurring offers and customer value.Â
Partners will earn rebates based on the total contract value of a closed sale, completion of activities to drive customer adoption of the solution, and incremental annual contract value as they increase subscriptions.Â
Additionally, partners will have the opportunity to earn bonus rewards-based investments in their Cisco practice or selling solutions.Â
The new model will also complement changes made to Cisco seller compensation and will be implemented in a phased approach and is expected to begin in the second half of 2024.Â
Greater profitability
With a strong focus on partner profitability, Cisco launched a new Lifecycle Pay with Trade-In incentive where customers can receive up to 10 per cent off the monthly payment when they trade-in legacy Cisco or third-party equipment.
For Partners who are Environmental Sustainability Specialised, they can combine this customer incentive with other benefits such as the Takeback Incentive.
Cisco Enterprise Agreement (EA) Pay has been further optimised by integrating EA financing directly into Cisco's quoting and ordering systems for rapid approvals.Â
Cisco Capital also expanded credit capacity by 21 per cent for partners taking part in the Channel Extended Terms Financing program.
PXP enhancements
The partner relationship management platform, PXP has been augmented with AI/ML-powered predictive insights and a revamped dashboard to provide a holistic view of funds activities and investments, removing the need for third-party tools.
PXP will also include a Sustainability Estimator, exclusively available to Environmental
Sustainability Specialised partners. Launching on 20 November, it will provide insight into the estimated energy savings, emissions reduction, cost reduction and environmental impact.
The tool is also supported by a new Sustainability Partner Journey with resources and collateral to help partners build their sustainability practices.
Capitalising on the MSP space
According to Cisco, managed services represent a total addressable market of US$161 billion for Cisco products as it anticipates 46 per cent of its sales will be sold as a managed service by 2027.Â
In order to enable MSPs to deliver a premium support experience, the networking vendor launched Partner Advanced Support for MSPs with guided access to API integrations that build on existing services.Â
It enables MSPs to offer faster, multi-product support, predictive insights, and issues resolution to scale an outcomes-based service model.
Furthermore, Cisco has also integrated its Lifecycle Advantage (LCA) into Cisco PX Cloud, streamlining the number of tools partners need to have a comprehensive view of their customer lifecycle data.Â
SMB
Cisco’s Small Business Specialisation has been refreshed and renamed the Small and Medium Business (SMB) Specialisation and showcases Cisco’s commitment to SMB customers
through end-to-end solutions from four primary experiences: Smart SMB, Hybrid SMB, Secure SMB, and Remote SMB.Â
Plans are also underway to launch two new Internet of Things (IOT) Solution Specialisations in the first half of 2024.
Julia Talevski attended Cisco Partner Summit 2023 as a guest of Cisco.
Wed, 08 Nov 2023 13:00:00 -0600text/htmlhttps://www.arnnet.com.au/article/709391/cisco-makes-mass-change-partner-incentive-program/Cisco Enhances Partner Program to Drive Partner Differentiation and ProfitabilityCisco Enhances Partner Program to Drive Partner Differentiation and Profitability
PR Newswire
MIAMI BEACH, Fla., Nov. 8, 2023
News Summary:
Cisco Partner Incentive to reward partners on all Cisco software, hardware, and services, and drive incremental growth and customer value.
Industry-leading Partner Relationship Management experience further enhanced with AI/ML-driven predictive insights to help partners grow revenues and increase profitability.
New Internet of Things (IoT) Industrial and Non-Industrial, Small and Medium Business, and Secure Networking Solution Specializations to drive further differentiation for partners.
New Sustainability Estimator will help Cisco Environmental Sustainability Specialized partners continue to build their sustainability practices.
MIAMI BEACH, Fla., Nov. 8, 2023 /PRNewswire/ -- CISCO PARTNER SUMMIT -- Today at Cisco Partner Summit 2023, Cisco (NASDAQ: CSCO) announced new features, enhancements and tools for its extensive partner community. As Cisco invests in creating more business value throughout the entire customer lifecycle, it has initiated a significant evolution of its flagship incentives to reward partners for selling Cisco hardware, software, and as-a-service solutions. To support partners' competitiveness, Cisco is adding up to six new Solution Specializations within the next nine months.
Today at Cisco Partner Summit 2023, Cisco announced new features, enhancements and tools for its partner community.Â
"The Cisco Partner Incentive is the biggest change we've made to partner incentives in more than a decade and is the capstone on the Cisco Partner Program evolution started in 2020," said Marc Surplus, Vice President of Partner Strategy and Programs at Cisco. "In broadening Cisco's suite of Solution Specializations, we are helping our partners differentiate in the market and demonstrate their expertise in the technologies and solutions sought by customers."
Cisco also introduced several enhancements to the Partner Experience Platform (PXP), a personalized online portal to support partners' productivity, competitiveness, profitability and go-to-market strategies. PXP has been augmented with AI/ML-powered predictive insights that can guide partners in ways to differentiate and grow their business. These enhancements are complemented by a revamped dashboard that provides a holistic view of funds activities and investments, removing the need for costly third-party tools.Â
PXP will also see the introduction of a Sustainability Estimator, exclusively available to Environmental Sustainability Specialized partners. Launching on November 20, 2023, the Sustainability Estimator will provide partners insight into the estimated energy savings, emissions reduction, cost reduction and environmental impact that a customer may realize by modernizing their IT hardware. The tool is also supported by a new Sustainability Partner Journey with resources and collateral to help partners build their sustainability practices.
Partner Incentive Aligning with Customer Value and Growth As a single simplified incentive, the Cisco Partner Incentive will combine elements from several of Cisco's most valued partner incentives. Aligned with Cisco's transition to more software and services-based offerings, it will reward partners with rebates to drive predictable and profitable growth. Considering business outcomes sought by customers and the need to maximize the return on customers' IT investments, the incentive will specifically support new logo acquisition, up-sell, and cross-sell opportunities. Implemented in a phased approach, the Cisco Partner Incentive is expected to begin in the second half of 2024, providing partners with plenty of time to transition to the new incentive framework.
The new incentive will cover three tracks: 1) non-recurring offers, 2) recurring offers and 3) customer value. Partners will earn rebates based on the Total Contract Value of a closed sale, completion of activities to drive customer adoption of the solution, and Incremental Annual Contract Value as they increase subscriptions. Additionally, partners will have the opportunity to earn bonus rewards-based investments in their Cisco practice or selling solutions. The Cisco Partner Incentive will complement accurate changes made to Cisco seller compensation to better serve customers and drive greater alignment in Cisco's joint go-to-market with partners.
Accelerating Partner Managed Services Intentionally partner-led, managed services represent a Total Addressable Market of $161 billion* for Cisco products ($357 billion with partner services included), with 46% of the company's sales expected to be sold as a managed service by 2027. To enable Managed Services Providers (MSPs) to deliver a premium support experience, Cisco has launched Partner Advanced Support for MSPs with the added benefit of guided access to API integrations that build on MSPs' existing services. Featuring faster access to experts and tools in Cisco's Technical Assistance Center (TAC) — a global organization that provides around-the-clock, award-winning technical support services online and over the phone — Partner Advanced Support for MSPs enables MSPs to offer faster, multi-product support, predictive insights, and issues resolution to scale an outcomes-based service model.Â
Building on the recently introduced Cisco Powered Managed Firewall, Intelligent Workspace and Private 5G, Cisco also announced today that it has integrated Cisco Lifecycle Advantage (LCA) into Cisco PX Cloud, streamlining the number of tools partners need to have a comprehensive view of their customer lifecycle data. Through this integration, partners will be able to access Success Tracks data to accelerate customer success and time-to-value with co-branded digital customer engagement.
More Solution Specializations
Cisco's Small Business Specialization has been refreshed and renamed the Small and Medium Business (SMB) Specialization. New Specialization content showcases Cisco's commitment to SMB customers through end-to-end solutions from four primary experiences: Smart SMB, Hybrid SMB, Secure SMB, and Remote SMB. Cisco's SMB Specialized partners are unique in the industry in offering this full-spectrum approach.
Cisco plans to launch two new Internet of Things (IOT) Solution Specializations in the first half of 2024. Between them, there is continued focus on the ruggedized industrial IOT segments and expanded recognition for partners working in non-industrial IOT spaces. This allows greater differentiation of IOT partner expertise, making it easier for customers to find the right fit for their business needs.Â
More Predictive Insights for Partners As the industry-leading digital Partner Relationship Management platform, PXP has been bolstered with greater predictive and prescriptive insights to enable partners to differentiate and drive profitable growth. These include:
Growth Finder — Provides partners with visibility to retain, grow and close more business, with recurring revenue, cross-sell and up-sell insights informed by targeted growth and partner-centric AI modeling. With this tool partners will be able to, for example, position the right security solution to the appropriate accounts with the right sales motion.
Expanded Practice Maturity lifecycle customer insights — Helps partners support their customers' lifecycle journey to drive more recurring revenue opportunities.
Incentive Insights — Includes missed opportunity views and an incentive optimizer to illustrate and drive tangible bottom line impact for partners.
Cisco Partner Journeys — Interactive journeys designed to cut through complexity to help partners achieve key business outcomes faster, with 19 total journeys focused on lifecycle, security, sustainability, software and more.
* Based on a Cisco market model conducted with a leading research firm (August 2023).
About Cisco
Cisco (NASDAQ: CSCO) is the worldwide technology leader that securely connects everything to make anything possible. Our purpose is to power an inclusive future for all by helping our customers reimagine their applications, power hybrid work, secure their enterprise, transform their infrastructure, and meet their sustainability goals. Discover more on The Newsroom and follow us on X at @Cisco.
Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at www.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company. Â
Tue, 07 Nov 2023 23:30:00 -0600entext/htmlhttps://www.morningstar.com/news/pr-newswire/20231108sf59919/cisco-enhances-partner-program-to-drive-partner-differentiation-and-profitabilityCisco Systems (CSCO) Stock Punished by Weak GuidanceNo result found, try new keyword!Cisco Systems Q1 earnings beat low expectations. But it is the company's guidance that punished the stock on Thursday. The post Cisco Systems (CSCO) Stock Punished by Weak Guidance appeared first on ...Wed, 15 Nov 2023 22:32:16 -0600en-ustext/htmlhttps://www.msn.com/Most Aussie businesses aren’t ready for AI: Cisco
Carl Solder (Cisco)
Credit: Cisco
The vast majority of Australian businesses are not ready for the integration of artificial intelligence (A) into their operations, with only 5 per cent claiming they’re fully prepared.
This is according to Cisco’s first AI Readiness Index, which surveyed over 8,000 companies worldwide, over 300 of which were in Australia, about the adoption of AI.
The survey found only 5 per cent of Australian companies were Pacesetters, or fully prepared, when it came to AI, compared to 14 per cent globally. Meanwhile, 53 per cent were Followers, or had limited preparedness, and 8 per cent were Laggards, or unprepared.
This is despite 75 per cent of Australian respondents claiming AI will have a significant impact on their business operations and 74 per cent of organisations not having comprehensive AI policies in place – the latter of which Cisco said must be addressed as companies consider and govern all factors that present risks in eroding confidence and trust.
“These factors include data privacy and data sovereignty and the understanding of and compliance with global regulations,” Cisco said. “Additionally, close attention must be paid to the concepts of bias, fairness and transparency in both data and algorithms.”
Additionally, 59 per cent said they have at most one year to implement an AI strategy before they face a significant negative business impact.
Even if there were large levels of readiness, that does not mean there would be adequate levels of protection in place, as 77 per cent said they lacked full readiness in detecting and thwarting cyber attacks on AI models.
“With an overwhelming majority of companies in Australia saying they are not fully ready to leverage AI, coupled with their deep sense of urgency to deploy AI in the coming months, the time to invest in infrastructure with the scalability and flexibility to support AI workloads is now," said Carl Solder, chief technology officer at Cisco Australia and New Zealand.
Thu, 16 Nov 2023 14:31:00 -0600text/htmlhttps://www.arnnet.com.au/article/709501/most-aussie-businesses-arent-ready-for-ai-cisco/Cisco changes up incentive program
Chuck Robbins (Cisco)
Credit: Cisco
Cisco has revealed new features, enhancements and tools for partners as it embarks on the biggest change to its incentive program.Â
The networking giant has initiated a significant evolution of its flagship incentives to reward partners for selling Cisco hardware, software, and as-a-service solutions. It is also adding six new solution specialisations within the next nine months.
The Cisco Partner Incentive will combine elements from several incentives such as VIP 42; CSPP and Lifecycle Incentives into one integrated view.
It will focus on rewarding partners with rebates to drive predictable and profitable growth and will specifically support new logo acquisition, up-sell, and cross-sell opportunities.Â
“The Cisco Partner Incentive is the biggest change we’ve made to partner incentives in more than a decade and is the capstone on the Cisco Partner Program evolution started in 2020,” Cisco vice president of partner strategy and programs Marc Surplus said.Â
“Our partners will make money in year one, they will also make money in year two and year three…. and that is what is driving their growth in their practices and more recurring revenue."
Specifically, the new incentive will cover three tracks - non-recurring offers; recurring offers and customer value.Â
Partners will earn rebates based on the total contract value of a closed sale, completion of activities to drive customer adoption of the solution, and incremental annual contract value as they increase subscriptions.Â
Additionally, partners will have the opportunity to earn bonus rewards-based investments in their Cisco practice or selling solutions.Â
The new model will also complement changes made to Cisco seller compensation and will be implemented in a phased approach and is expected to begin in the second half of 2024.Â
Greater profitability
With a strong focus on partner profitability, Cisco launched a new Lifecycle Pay with Trade-In incentive where customers can receive up to 10 per cent off the monthly payment when they trade-in legacy Cisco or third-party equipment.
For Partners who are Environmental Sustainability Specialised, they can combine this customer incentive with other benefits such as the Takeback Incentive.
Cisco Enterprise Agreement (EA) Pay has been further optimised by integrating EA financing directly into Cisco's quoting and ordering systems for rapid approvals.Â
Cisco Capital also expanded credit capacity by 21 per cent for partners taking part in the Channel Extended Terms Financing program.
PXP enhancements
The partner relationship management platform, PXP has been augmented with AI/ML-powered predictive insights and a revamped dashboard to provide a holistic view of funds activities and investments, removing the need for third-party tools.
PXP will also include a Sustainability Estimator, exclusively available to Environmental
Sustainability Specialised partners. Launching on 20 November, it will provide insight into the estimated energy savings, emissions reduction, cost reduction and environmental impact.
The tool is also supported by a new Sustainability Partner Journey with resources and collateral to help partners build their sustainability practices.
Capitalising on the MSP space
According to Cisco, managed services represent a total addressable market of US$161 billion for Cisco products as it anticipates 46 per cent of its sales will be sold as a managed service by 2027.Â
In order to enable MSPs to deliver a premium support experience, the networking vendor launched Partner Advanced Support for MSPs with guided access to API integrations that build on existing services.Â
It enables MSPs to offer faster, multi-product support, predictive insights, and issues resolution to scale an outcomes-based service model.
Furthermore, Cisco has also integrated its Lifecycle Advantage (LCA) into Cisco PX Cloud, streamlining the number of tools partners need to have a comprehensive view of their customer lifecycle data.Â
SMB
Cisco’s Small Business Specialisation has been refreshed and renamed the Small and Medium Business (SMB) Specialisation and showcases Cisco’s commitment to SMB customers
through end-to-end solutions from four primary experiences: Smart SMB, Hybrid SMB, Secure SMB, and Remote SMB.Â
Plans are also underway to launch two new Internet of Things (IOT) Solution Specialisations in the first half of 2024.
Julia Talevski attended Cisco Partner Summit 2023 as a guest of Cisco.
Wed, 08 Nov 2023 13:00:00 -0600text/htmlhttps://www.reseller.co.nz/article/709391/cisco-makes-mass-change-partner-incentive-program/?fpid=1Cisco Enhances Partner Program to Drive Partner Differentiation and Profitability
News Summary:
Cisco Partner Incentive to reward partners on all Cisco software, hardware, and services, and drive incremental growth and customer value.
Industry-leading Partner Relationship Management experience further enhanced with AI/ML-driven predictive insights to help partners grow revenues and increase profitability.
New Internet of Things (IoT) Industrial and Non-Industrial, Small and Medium Business, and Secure Networking Solution Specializations to drive further differentiation for partners.
New Sustainability Estimator will help Cisco Environmental Sustainability Specialized partners continue to build their sustainability practices.
MIAMI BEACH, Fla., Nov. 8, 2023 /PRNewswire/ -- CISCO PARTNER SUMMIT -- Today at Cisco Partner Summit 2023, Cisco (NASDAQ: CSCO) announced new features, enhancements and tools for its extensive partner community. As Cisco invests in creating more business value throughout the entire customer lifecycle, it has initiated a significant evolution of its flagship incentives to reward partners for selling Cisco hardware, software, and as-a-service solutions. To support partners' competitiveness, Cisco is adding up to six new Solution Specializations within the next nine months.
Today at Cisco Partner Summit 2023, Cisco announced new features, enhancements and tools for its partner community.
"The Cisco Partner Incentive is the biggest change we've made to partner incentives in more than a decade and is the capstone on the Cisco Partner Program evolution started in 2020," said Marc Surplus, Vice President of Partner Strategy and Programs at Cisco. "In broadening Cisco's suite of Solution Specializations, we are helping our partners differentiate in the market and demonstrate their expertise in the technologies and solutions sought by customers."
Cisco also introduced several enhancements to the Partner Experience Platform (PXP), a personalized online portal to support partners' productivity, competitiveness, profitability and go-to-market strategies. PXP has been augmented with AI/ML-powered predictive insights that can guide partners in ways to differentiate and grow their business. These enhancements are complemented by a revamped dashboard that provides a holistic view of funds activities and investments, removing the need for costly third-party tools.
PXP will also see the introduction of a Sustainability Estimator, exclusively available to Environmental Sustainability Specialized partners. Launching on November 20, 2023, the Sustainability Estimator will provide partners insight into the estimated energy savings, emissions reduction, cost reduction and environmental impact that a customer may realize by modernizing their IT hardware. The tool is also supported by a new Sustainability Partner Journey with resources and collateral to help partners build their sustainability practices.
Partner Incentive Aligning with Customer Value and Growth As a single simplified incentive, the Cisco Partner Incentive will combine elements from several of Cisco's most valued partner incentives. Aligned with Cisco's transition to more software and services-based offerings, it will reward partners with rebates to drive predictable and profitable growth. Considering business outcomes sought by customers and the need to maximize the return on customers' IT investments, the incentive will specifically support new logo acquisition, up-sell, and cross-sell opportunities. Implemented in a phased approach, the Cisco Partner Incentive is expected to begin in the second half of 2024, providing partners with plenty of time to transition to the new incentive framework.
The new incentive will cover three tracks: 1) non-recurring offers, 2) recurring offers and 3) customer value. Partners will earn rebates based on the Total Contract Value of a closed sale, completion of activities to drive customer adoption of the solution, and Incremental Annual Contract Value as they increase subscriptions. Additionally, partners will have the opportunity to earn bonus rewards-based investments in their Cisco practice or selling solutions. The Cisco Partner Incentive will complement accurate changes made to Cisco seller compensation to better serve customers and drive greater alignment in Cisco's joint go-to-market with partners.
Accelerating Partner Managed Services Intentionally partner-led, managed services represent a Total Addressable Market of $161 billion* for Cisco products ($357 billion with partner services included), with 46% of the company's sales expected to be sold as a managed service by 2027. To enable Managed Services Providers (MSPs) to deliver a premium support experience, Cisco has launched Partner Advanced Support for MSPs with the added benefit of guided access to API integrations that build on MSPs' existing services. Featuring faster access to experts and tools in Cisco's Technical Assistance Center (TAC) — a global organization that provides around-the-clock, award-winning technical support services online and over the phone — Partner Advanced Support for MSPs enables MSPs to offer faster, multi-product support, predictive insights, and issues resolution to scale an outcomes-based service model.
Building on the recently introduced Cisco Powered Managed Firewall, Intelligent Workspace and Private 5G, Cisco also announced today that it has integrated Cisco Lifecycle Advantage (LCA) into Cisco PX Cloud, streamlining the number of tools partners need to have a comprehensive view of their customer lifecycle data. Through this integration, partners will be able to access Success Tracks data to accelerate customer success and time-to-value with co-branded digital customer engagement.
More Solution Specializations Cisco's Small Business Specialization has been refreshed and renamed the Small and Medium Business (SMB) Specialization. New Specialization content showcases Cisco's commitment to SMB customers through end-to-end solutions from four primary experiences: Smart SMB, Hybrid SMB, Secure SMB, and Remote SMB. Cisco's SMB Specialized partners are unique in the industry in offering this full-spectrum approach.
Cisco plans to launch two new Internet of Things (IOT) Solution Specializations in the first half of 2024. Between them, there is continued focus on the ruggedized industrial IOT segments and expanded recognition for partners working in non-industrial IOT spaces. This allows greater differentiation of IOT partner expertise, making it easier for customers to find the right fit for their business needs.
More Predictive Insights for Partners As the industry-leading digital Partner Relationship Management platform, PXP has been bolstered with greater predictive and prescriptive insights to enable partners to differentiate and drive profitable growth. These include:
Growth Finder — Provides partners with visibility to retain, grow and close more business, with recurring revenue, cross-sell and up-sell insights informed by targeted growth and partner-centric AI modeling. With this tool partners will be able to, for example, position the right security solution to the appropriate accounts with the right sales motion.
Expanded Practice Maturity lifecycle customer insights — Helps partners support their customers' lifecycle journey to drive more recurring revenue opportunities.
Incentive Insights — Includes missed opportunity views and an incentive optimizer to illustrate and drive tangible bottom line impact for partners.
Cisco Partner Journeys — Interactive journeys designed to cut through complexity to help partners achieve key business outcomes faster, with 19 total journeys focused on lifecycle, security, sustainability, software and more.
Additional Resources
* Based on a Cisco market model conducted with a leading research firm (August 2023).
About Cisco
Cisco (NASDAQ: CSCO) is the worldwide technology leader that securely connects everything to make anything possible. Our purpose is to power an inclusive future for all by helping our customers reimagine their applications, power hybrid work, secure their enterprise, transform their infrastructure, and meet their sustainability goals. Discover more on The Newsroom and follow us on X at @Cisco.
Cisco and the Cisco logo are trademarks or registered trademarks of Cisco and/or its affiliates in the U.S. and other countries. A listing of Cisco's trademarks can be found at www.cisco.com/go/trademarks. Third-party trademarks mentioned are the property of their respective owners. The use of the word partner does not imply a partnership relationship between Cisco and any other company.