Cisco has ended its fiscal 2021 with its highest product order growth rates in more than a decade, after having a really mixed year.
Revenues for the three months ending 31 July reached 13.1 billion, an increase of eight per ent year on year. GAAP operating income meanwhile swelled by 10 percent to $3.6 billion. Cisco’s sales for its full fiscal 2021 increased by one percent to $49.8 billion.
Cisco’s EMEA business grew revenues by six percent to $3.3 billion for the quarter. Sales in the Land of the Fee grew by eight percent to $7.73 billion
Product revenues grew by 10 percent in Fourth Quater to $9.71 billion, while services enjoyed 2.6 percent growth to $3.4 billion.
Speaking to investors on an earnings call, Cisco CEO Chuck Robbins said that product order growth was the highest it has seen in more than a decade. Which Robbins said reaffirms “tremendous demand” for Cisco’s technology.
“I believe we’re at a pivotal moment in our company’s history as we have a massive opportunity to transform what has been the traditional office and define the future of hybrid work”, he said.
The CEO said that customer IT budgets continue to grow and business confidence is increasing. The Delta variant is not having an impact on customer spending, Robbins added.
Product orders were high among Cisco’s enterprise customers, with 25 percent growth year on year, while its commercial, service provider and public sector orders all grew by more than 20 percent annually.
From a product standpoint, Cisco’s campus switching, Catalyst 9000, high-end routing, wireless and Zero Trust solutions all saw double-digit revenue growth during the quarter.
Cisco’s software revenue went past $4 billion in sales during Q4 – an improvement of six percent year over year, with subscription revenues growing by nine percent.
