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Cisco CEO Chuck Robbins: ‘Our Focus On Subscriptions Allows Us To Deliver Innovation Faster To Our Customers’

Cisco is investing in new technologies and business opportunities as well as a transformation to being a software-led company, CEO Chuck Robbins said on the company’s earnings call.

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Driving Growth Through Innovation

 Cisco Wednesday reported its first fiscal quarter 2022 financials, and while the numbers were good investors did drive down share prices starting in after-hours trading and through Thursday, where share prices were down by about 6 percent over Wednesday.

Revenue for the quarter was $12.90 billion, which was up 8 percent over last year but missed analysts’ expectations by $90 million, according to Seeking Alpha. Net income on a GAAP and non-GAAP both beat analysts’ expectations by a few cents per share, but guidance for current quarter revenue and earnings are both below analysts’ expectations.

Speaking during the company‘s second fiscal quarter 2022 financial analyst conference call, Cisco Chairman and CEO Chuck Robbins did call out backlogs caused by the company’s supply chain constraints but noted that those backlogs are orders that will eventually ship.

Robbins instead focused on the opportunities Cisco sees going forward, particularly from its move to become a software-led organization and its investments in leading-edge networking technologies. “We will continue to strategically invest across our portfolio to drive growth in innovation, strengthen our competitive advantage and position Cisco for success,” he said. ”And I continue to have great confidence in our future.”

Here is a look at what Cisco is doing to overcome temporary supply chain constraints and invest for the future.

 

 
 
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