Cisco revenue remains unchanged at $12B in Q2

Tuesday, 09. February 2021 22:13

Cisco Systems Inc. released on Tuesday its second-quarter earnings results, posting a $12 billion revenue, a similar result was achieved in the same period of last year. The company's GAAP net income was down 12% at $2.5 billion, while the GAAP diluted earnings per share also declined by 12% to $0.60.

"We are seeing encouraging signs of strength across our business showing how our technology will be a powerful engine for recovery and growth. Our team delivered a strong performance as we partnered with customers on accelerating their digital transformation and driving secure, remote work," said Chuck Robbins, chairman and CEO of Cisco.

Cisco declared a quarterly dividend increase of 3% to $0.37 per common share, while the total product growth was up 1% year on year. The company also acknowledged its business transformation progress, saying 76% of its software revenue came from subscriptions.

The company's shares lost 3.07% in the after-hours trading selling for $47.05 per share following the announcement.

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