Cisco Rode ‘Hybrid Work’ Demand to 7% Q1 Sales Gain
Cisco’s revenue jumped 7% in fiscal Q3 ended May 1 on strong “broad-based demand” across the board in “hybrid work, digital transformation, cloud and continued strong uptake of our subscription-based offerings,” said CEO Chuck Robbins on a Wednesday call. Cisco…
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had “early momentum in the ramping of key technology cycles” including for 5G, he said. Cisco added more than 400 new features and devices to its Webex portfolio in the past six months, said Robbins. Cisco is “extending the Webex suite of devices, including digital signage, touchless calls, room capacity alerts and environmental sensors to help enable a safe return to the office.” Chip supply chain constraints will "be with us through" calendar 2021, he said. The supply chain team entered the middle of the quarter “concerned about what they could see for the next two months” into the shortages, he said. The team since is “getting better visibility,” he said.