Q2 Fiscal Year 2023
      

        Conference Call
      

        February 15, 2023
      




          Forward-Looking Statements
        

          This presentation contains projections and other forward-looking statements regarding future events or the future financial performance of Cisco, including future operating results. These projections and statements are only predictions. Actual events or results may differ materially from those in the projections or other forward-looking
        

          statements. Please see Cisco's filings with the SEC, including its most recent filings on Forms 10-K and 10-Q, for a
        

          discussion of important risk factors that could cause actual events or results to differ materially from those in the projections or other forward-looking statements.
        

          GAAP Reconciliation
        

          During this presentation references to financial measures of Cisco will include references to non-GAAP financial measures. Cisco provides a reconciliation between GAAP and non-GAAP financial information on the Cisco Investor Relations website https://investor.cisco.com/financial-information/financial-results/default.aspx







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        Business Momentum & Key Trends
      




          Q2 FY 2023 Highlights
        


Strong results reflecting solid execution and disciplined financial management






$13.6B revenue and non-GAAP EPS of $0.88 - both above the high end of guidance
              



Overall demand environment remained steady


Continued progress on business transformation:




Annualized Recurring Revenue (ARR) of $23.3B, up 6% y/y; Product ARR up 11% y/y




Software revenue of $4.2B, up 10% y/y; Software subscription revenue up 15% y/y




Total subscription revenue represented 44% of our total revenue




Remaining Performance Obligations (RPO) of $31.8B, up 4% y/y; Product RPO up 7% y/y




Raised our FY2023 outlook - business transformation continued success, RPO of almost $32B, healthy backlog and pipeline, and actions we took to improve supply provided us increased visibility and confidence


Record operating cash flow generation of $4.7B, up 93% y/y and $2.8B returned to stockholders








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        Financial Overview
      
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Cisco Systems Inc. published this content on 15 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 February 2023 22:28:06 UTC.