$13.6 billion in revenue, up 6% year over year; GAAP EPS $0.65, down 7% year over year, and Non-GAAP EPS $0.86, up 5% year over year
Cisco reported first quarter results for the period ended October 29, 2022. Cisco reported first quarter revenue of $13.6 billion, net income on a generally accepted accounting principles (GAAP) basis of $2.7 billion or $0.65 per share, and non-GAAP net income of $3.5 billion or $0.86 per share.
"Our fiscal 2023 is off to a good start as we delivered the largest quarterly revenue and second highest quarterly non-GAAP earnings per share in our history," said Chuck Robbins, chair and CEO of Cisco. "These results demonstrate the relevance of our strategy, our differentiated innovation, and our unique position to help our customers become more resilient."
Cisco Partner Summit has ended, but we continue to build on the momentum and excitement around our security innovations and announcements.
At Partner Summit Jeetu Patel, Emma Carpenter and Shaila Shankar took the stage to highlight our partner profitability programs and the opportunities around the firewall refresh cycle.
New Security Global Marketing Campaign - If it's connected, it's protected
Alongside our product and profitability announcements, our marketing team launched a new global marketing brand campaign. Carrie Palin, unveiled our latest video highlighting how Cisco security delivers a complete set of security solutions, all designed to integrate seamlessly with third party technology to deliver resilient, end-to-end protection.
Communication service providers (CSPs) are being challenged to deploy 5G in dense urban and high traffic environments while trying to optimize for cost and simplify capacity expansions.
Centralized radio access network (CRAN) architectures are becoming critical as CSPs adopt mid-band and high-band spectrums to address 5G opportunities. CRAN architecture lowers capital expenditures (CapEx), simplifies operations, and enhances RAN performance with spectrum sharing technologies. CSPs need to look at their existing transport architecture to ensure that they realize these benefits by adopting CRAN.
Evolving the transport network is a first important step in adopting 5G on an existing 4G RAN network. The decision to either stay with distributed RAN (DRAN) architecture by expanding backhaul capacity or migrating to CRAN architecture with fronthaul investment is something every CSP must consider.
Understanding your applications and network in depth - how applications and infrastructure are performing, or not - is what observability offers to your business
Briefly defined, full-stack observability (FSO) is real-time observability across applications, software-defined compute, storage, services, network, etc. FSO offers in-depth visibility into the behavior, performance, and health of applications and infrastructure through metrics, events, logs, and traces (MELT)-providing visibility, insights and actions that help teams optimize customer experiences and deliver business outcomes.
The shift to virtual and hybrid teaching, learning, work, and services brought on by the pandemic (and which continues today) has accelerated cybersecurity risks for education institutions of all levels.
While data breaches are common across all industries, the risk for education is particularly acute given the sensitivity of students, faculty, staff, and research data. The increase in individuals accessing school systems outside of the campus and on personal devices has increased the threat surface exponentially. Adding in the fact that many institutions are understaffed and/or have insufficient security measures in place makes universities and schools attractive, lucrative, and easy targets for cyber criminals.
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