Cisco has started its fiscal year 2022 by entering $ 12.9 billion in the first quarter, 8% more, and earning $ 0.82 for each of his shares. Total product order growth from the company was 33% year-over-year, and product revenue growth was 11% – $ 9.53 billion.
Income obtained from Cisco’s sales in the Secure Networks and Agile division reached 5,970 million dollars in the period, an increase of 10%. Those of “internet for the future” rose 46% to $ 1.37 billion. End-to-end Security improved 4% to $ 895 million, Optimized Application Experiences, 18% better, reached $ 181 million, while Hybrid Work decreased 7% to $ 1,110 million of dollars.
Finally, what was achieved by the Other Products division rose 9% to $ 3 billion, Services remained at $ 3.37 billion, a figure that reflects an improvement of 1% year-on-year. In terms of deferred revenue for the quarter, they were $ 22.1 billion, up 8%. Additionally, for the current quarter, Cisco expects its revenues to grow between 4.5% and 6.5%.
The Cisco CEO Chuck Robbins, has stated that «In the first quarter we had robust growth and continued strong demand despite having a very dynamic supply environment. Cisco technology is at the heart of today’s accelerated digital transformation. Our advancements in innovation, strong demand, and the success of our position in business transformation set us well for another year of growth in fiscal 2022. Our teams performed well in a challenging environment, achieving profitable and revenue-balanced growth and earnings per share both growing 8% year-on-year. We also continue to make notable progress in our business model transformation. Remaining performance obligations and annualized recurring revenue grew 10% YoY«.