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Cisco reports impressive results in Q4 2018, driven by its software business

August 16, 2018
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Cisco Systems has reported more than estimated quarterly revenues and profits for the fourth quarter of 2018. This has been primarily driven by the network gear maker's transition to a software-focused company. Cisco has been launching new products focused on high-growth areas such as cyber security and Internet of Things.

The company's net income stood at $3.80 billion as on July 28, 2018 in comparison to $2.42 billion a year earlier.

Total revenue of the company increased by 6 per cent year on year (YoY) and stood at $12.84 billion for the period under consideration. Subscriptions contributed 56 per cent of total software revenue in the reported quarter.

Revenue from Cisco’s security business increased by12 per cent and stood at $627 million, beating estimates of $615.8 million. Deferred revenue in the business jumped by 23 per cent.

Meanwhile, revenue from its infrastructure platform division increased by 7 per cent and stood at $7.44 billion, while estimated revenue was $7.32 billion.

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