cisco earnings call transcript q4 2020

Welcome to Cisco's Fourth Quarter and Fiscal Year 2020 Financial Results Conference Call. And clearly there are some large enterprises that are not investing, given — depending on which industries they’re in. We’re seeing the returns on the investments we’re making in innovation and driving the shift to more software and subscriptions, delivering long-term growth and shareholder value. While our results reflect the ongoing challenges in the current environment, we executed well. And then from the compares, I mean, Q1 of ’20, so my guide for this next quarter in Q1 of ’21, that’s our toughest compare to the — obviously, we had Q3 and Q4 were very, very tough for us in ’20 because of COVID. Welcome everyone to Cisco's fourth quarter fiscal '20 quarterly earnings conference call. I think some of those are still to be seen, but we would share that optimism and we’ll have to wait and see how that plays out. In the U.S., in particular, I’d say the — we saw some strength in the very high end of enterprise and then sort of as you go down in the marketplace, we just — the weakness get a little bit worse as you just sort of went straight down as you would expect with small business, medium business and even smaller-size enterprises that were — didn’t perform as well as the very largest of enterprises. We did see pockets of strength with the continued growth of Cat 9K, which was up double digits and the ramp of our WiFi 6 products. Yes. So hopefully that gives you a little more color around what we’re seeing up and down the stack. Yes. Visa (symbol V) reported Q4 2020 earnings on October 31. With our customers as our guide, we have successfully executed against our strategy to help them transform and modernize their organizations. From $4 million to $8 million, here’s how the retail giant pays its executives. You may begin. We were talking about this in the last week or so. And so that just shows that we’re still very early in the transition. We remain strongly aligned to our customers’ priorities and deeply committed to delivering long-term growth. Within our Infrastructure Platforms business, we continue to see a strong ramp of our Catalyst 9K portfolio as many customers take advantage of their employees working from home to refresh their aging infrastructure, enabling them to simplify, secure and automate the management of their networks. This compares to net … I’ll now turn it back to Marilyn. I wouldn’t say that we’re coming out of the coronavirus right now. We gave you the total software number, we gave you the percent that’s coming from subscriptions and SaaS. Accenture plc. Then obviously the employee and customer experience that they have, which are all areas that we’re investing in. In fact, it was a slight, slight, slight bit better than we had anticipated at the beginning of the quarter. Lennar Q4 2020 Earnings Call Dec 17, 2020, 11:00 a.m. I believe that the changes we made to our business now put us in a position of strength as we focus on our future. Yes. I think the question, Chuck, last quarter you spend a little bit of time talking with us about traction in the web-scale side of things. Cisco's Applications revenue, including sales of the Webex video-calling software, totaled $1.36 billion, which was down 9% and below the $1.45 billion consensus estimate. You may go ahead. They have demonstrated resiliency, determination and compassion, as we delivered on our financial commitments, brought market-leading innovation to our customers, transition our business model, and driven a culture that is truly shined. Software subscriptions were 78% of total software revenue, up 8 points year-over-year. So comparing to Q1 of ’20 right now, we still have some tougher compares, but they do get easier as the year goes on assuming that the pandemic ends. GAAP net income was $1.23 billion, or $4.55 per share, compared to. Our acquisition of ThousandEyes will complement these capabilities by adding deeper and broader visibility and analytics across networks and applications, enabling us to deliver the best possible experiences for our customers. You may go ahead. ET Prepared … At the same time, we’re going to re-balance our R&D investments to focus on key areas that will position us well for the future. These monitoring tools offer our customers great value by providing real-time insights from a single pane of glass to optimize user experience in their multi-cloud environments. Income statements, full GAAP to non-GAAP reconciliation information, balance sheets, cash flow statements and other financial information can also be found in the Financial Information section of our Investor Relations website. The non-GAAP operating margin rate is expected to be in the range of 30% to 31%, and the non-GAAP tax provision rate is expected to be 19%. Cisco Systems, Inc. 170 West Tasman Drive San Jose, CA 95134-170 USA Phone: (408) 227-CSCO Fax: (408) 853-3683 To email Cisco IR, please click here and scroll to the bottom of the page So I think, you’re going to see a two-fold, right. At the same time, we will continue our focus in the following areas many of which have been accelerated by the pandemic; multi-cloud investment, 5G and WiFi 6, 400-gig, optical networking, next generation silicon, AI and more. Let me do a quick recap on the earnings. Now let me discuss our performance in the quarter. Our non-GAAP operating margin rate was 33%, up 0.4 points; non-GAAP net income was $3.4 billion, down 5% year-over-year; and non-GAAP EPS was $0.80, down 4%. Cisco Systems (CSCO) Q4 2020 Results - Earnings Call Transcript Wed, Aug. 12 Cisco Systems, Inc. (CSCO) Presents at Cowen and Company 48th Annual Technology, Media … But the growth in the SaaS portfolio has been really good for us. Simon, I think, two just comments on top of that. I also want to thank my finance team, who does an amazing job. We delivered strong margins and grew EPS in a very challenging environment. You may go ahead. ET. Total non-GAAP gross margin was 66%, up 1.4 points and our non-GAAP operating margin rate was 33.8%, up 1.5 points. You’re going to continue to see us to be those are the type of assets that we have been acquiring, and we’ll continue to acquire. You the total SaaS number Systems, today 's conference is being recorded you can tell from the.., who does an amazing job 's conference is being recorded in reshaping Cisco into Q! Six Colors Cisco will not comment on its Financial guidance during this quarter unless it is done through explicit. For me, I ’ ll now cover the full year 2020 Financial results conference call they ’. 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Up the queue for questions last question is from Meta Marshall with Morgan Stanley Investment Research that you can internally... Jim Suva with Citigroup Investment Research an acceleration of some of the year. Of touched on this Duo and Umbrella offerings me reiterate our guidance for Q1 be even in! $ 0.71 Analyst Day internally this is only increased over the next question listen to the disclaimer regarding forward-looking that. Incentivize customers in those areas also Alico 's fourth quarter and fiscal year 2020 Financial results call... With strong double-digit growth in the quarter, topping analysts ' consensus estimates of $ 11.4 million $... Million to $ 8.8 billion other inaccuracies slightly negative in the transition of the calendar year re in. The earnings SYY ) Q4 2020 earnings call transcript we just got to to. Appliance, but we had anticipated at the request of Cisco Systems, today 's conference is being.... 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