Cisco Reports Solid Q2 Builds Up Major Product Backlog
All told, Cisco’s Q2 non-GAAP earnings per share came to 84 cents on revenue of $12.7 billion, up 6% year over year. Wall Street was expecting second-quarter earnings of 81 cents per share on revenue of $12.65 billion. “We continue to see incredibly strong demand across our portfolio, emphasizing the criticality and relevance of Cisco’s innovation,” CEO Chuck Robbins said in a statement. “Our robust order strength, record backlog and double-digit growth in annual recurring revenue position us well to deliver growth....