Channel Beat: Cisco, Salesforce Smash Earnings Expectations

Thanks to double-digit growth in its security, collaboration and services business, Cisco beat Wall Street estimates during its third fiscal quarter.

Cisco saw its second straight quarter of double-digit growth in security, which grew 17 percent in the quarter.

Overall sales reached $12 billion, and overall services revenue jumped 11 percent year-over-year.

id
unit-1659132512259
type
Sponsored post

Salesforce enjoyed its best-ever first fiscal quarter, reporting revenue for the quarter at $1.92 billion.

That number is up 27 percent from the same quarter last year, and subscription and support revenue is up 26 percent from Q1 of 2016.

Salesforce will look to grow a new relationship with Amazon Web Services to propel future growth.

The company is on track to break that $10 billion revenue mark.

This week Microsoft said it will offload its feature-phone unit for about $350 million, leaving the future of Windows Phone up in the air.

Microsoft will sell its phone business to FIH Mobile, a business that includes a portion of its 2014 Nokia acquisition.

Microsoft said it will continue to develop Windows 10 Mobile and support Lumia phones, despite decreasing market share.