cisco earnings call transcript q4 2020

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. Hi, guys. Categories Earnings Call Transcripts, Technology, Cisco Systems Inc. (NASDAQ: CSCO) Q4 2020 earnings call dated Aug. 12, 2020, Marilyn Mora — Head of Investor Relations, Chuck Robbins — Chairman and Chief Executive Officer, Kelly A. Kramer — Executive Vice President and Chief Financial Officer, Sami Badri — Credit Suisse Securities — Analyst, Ittai Kidron — Oppenheimer & Company, Inc. — Analyst, James Suva — Citigroup Global Markets, Inc. — Analyst, Paul J Silverstein — Cowen & Co — Analyst, Simon Leopold — Raymond James & Associates, Inc. — Analyst, George Notter — Jefferies & Co. — Analyst. Cisco's next quarterly earnings call, which will reflect our Q4 2020 and annual results will be on Wednesday, August 12th at 1:30 PM Pacific Time, 4:30 PM Eastern Time. 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. We will also accelerate our investments in the following areas: cloud security, cloud collaboration, key enhancements for education, health care and other industries, increased automation in the enterprise, the future of work and application insights and analytics. Thanks, Kelly. To contact Cisco Investor Relations: Investor Relations Department. Kelly, thank you. As we start the new fiscal year, I believe we have incredible opportunities in front of us. Applications was down 9%. Welcome everyone to Cisco’s fourth quarter fiscal ’20 quarterly earnings conference call. With respect to guidance, please also see the slides and press release that accompany this call for further details. Through the hard work of everyone at Cisco, we have undergone a significant transformation in the midst of some of the most complex times in our history. And so they’re not — that part is not accelerating, but the 9K has continued to accelerate. And also it feels like the pace of technology evolution, it clearly is — just keeps accelerating. If you would like to listen to the call in its entirety, you may call 866-429-0574. Yes. A lot of our portfolio do on Umbrella in Security. So it’s — again, we are taking out growth over a $1 billion. Contributor. Clearly, we’ve got a lot of technology that we’re working on today to help our customers over the next three, four, five years in this multi-cloud world that they’re going to live in. At the request of Cisco, today's conference is being recorded. And as they went into this work-from-home environment as I said on our last call, those who had technical debt and those who had not really invested in modernizing their infrastructure, they know they will need to do that. Kelly has graciously agreed to stay on as CFO, until we have her successor on board and will advise us with the succession process. Well, I’ll comment subjectively and then I’ll let Kelly talk a little bit about the numbers. And it’s just the COVID impact of the overall, and again, the legacy product falling off is really what’s driving, but that’s why we have face and feel good about the portfolio when we come out of the environment. But I’d say in general, it feels pretty much the same as it did 90 days ago to us relative to that. Infrastructure Platforms was down 16%. Wether it’s tackling the global health pandemic or social injustice and intolerance, we are committed to our purpose of powering an inclusive future for all. Thanks, Sue. We will see the cost coming out. And you’re seeing internally this is also how we are developing product to try to accelerate that. All right. I’m just hoping to understand to simply get maybe a new roadmap or new target that we should hold you guys or measure you against. So we will still see some continued demand for that. Again, I’d like to remind the audience that in light of Regulation FD, Cisco’s policy is not to comment on its financial guidance during the quarter, unless it’s done through an explicit public disclosure. Clearly, that’s not every customer. Thanks for taking the questions. This is Marilyn Mora, Head of Investor Relations, and I’m joined by Chuck Robbins, our Chairman and CEO; and Kelly Kramer, our CFO. SAN JOSE, Calif., July 29, 2020 /PRNewswire/ -- Cisco has scheduled a conference call for Wednesday, August 12, 2020, at 1:30 PM (PT); 4:30 PM (ET) to announce its fourth quarter and fiscal year 2020 financial results for the period ending Saturday, July 25, 2020. Since our launch six weeks ago, we have over 2,100 active daily customers, two-thirds of which have two or more products active. With this, many customers are increasingly reliant on our broad portfolio of technologies resulting in another quarter of strong demand for our Catalyst 9000, security, WebEx and other SaaS-based solutions. At our Financial Analyst Conference in 2017, we laid out key metrics for our transformation. So Cisco's next quarterly earnings conference call, which will reflect our fiscal 2020 first quarter results will be on Wednesday, November 13, 2019 at 1:30 p.m. Pacific Time, 4:30 p.m. Eastern Time. Industries, governments and work have changed dramatically, and many of these changes will become permanent. Accenture plc. And you’ll see more of that come out over the next couple of years. And we thank you very much for joining today’s call. 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. In Q2 fiscal 2019, we completed the sale of our SPVSS business, as such all of the financial information we will be discussing is normalized to exclude the SPVSS business from our historical results. The Americas is still sort of the wildcard, I’d say, that we see right now. Remaining performance obligations or RPO at the end of Q4 were $28.4 billion, up 12%. More specifically, we will accelerate the transition of the majority of our portfolio to be delivered as a service. Throughout this conference call, we will be referencing both GAAP and non-GAAP financial results, and we’ll discuss product results in terms of revenue and geographic and customer results in terms of product orders unless stated otherwise. Robert W. McMahon — Senior Vice President and Chief Financial Officer. At Cisco, we are committed to helping our customers truly digitizer organizations for the future, regardless of the challenges or fundamental shifts that we may face. I think that, as Kelly and I looked at where we expected demand to be from the beginning of the quarter to the end of the quarter, we were pretty much in line. The network equipment provider reported $0.76 EPS for the quarter, topping analysts' consensus estimates of $0.70 by $0.06. Executives. And we feel like we just need to get through this pandemic cycle that we have and then we’ll set some new targets and we’ll communicate them to you at that time. Thank you. And then congrats to Kelly also? What — when the customers are buying, they are buying the new portfolio handover fist. And we obviously still have a ways to go to your question relative to a new target. Welcome to Cisco's Fourth Quarter and Fiscal Year 2020 Financial Results Conference Call. A corresponding webcast with slides, including supplemental information will be made available on our website in the Investor Relations section following the call. Here's our ongoing live transcript of their remarks! So whether it’s things like the dollars, weaker FX, it’s going to be a bit of a headwind this year. We are seeing customers continue to delay their purchasing decisions in certain areas, while increasing spend in others, until they have greater visibility and clarity on the timing and shape of the global economic recovery. Cisco has scheduled a conference call for Wednesday, August 12, 2020, at 1:30 PM (PT); 4:30 PM (ET) to announce its fourth quarter and fiscal year 2020 financial results for the period ending Saturday, July 25, 2020. Thank you. It was primarily Canada and Mexico in the Americas, it drove the negative here. Kelly, we will miss you. And my understanding is that the portfolio has been releasing platforms that are more suited for smaller enterprises just at the time when those are the weakest customers. But we did see strength in the very large enterprise in the U.S. We also saw some strength in federal, in the U.S. clearly, and that was actually really promising because they had a very strong quarter a year ago. And clearly there are some large enterprises that are not investing, given — depending on which industries they’re in. And so that just shows that we’re still very early in the transition. But I think you’re asking specifically about SaaS. Let me reiterate our guidance for the first quarter of fiscal ’21. But like anything Jeff, there is puts and takes as we go forward. As with all our articles, AlphaStreet, Inc. does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company’s SEC filings. Cisco’s next quarterly earnings conference call, which will reflect our fiscal 2021 first quarter results will be on Thursday, November 12, 2020 at 1:30 PM Pacific Time, 4:30 PM Eastern Time. And we’re going to continue to execute through this. So we’re excited about her sticking around and helping us do that. Visa (symbol V) reported Q4 2020 earnings on October 31. You’ll be missed. Cisco Systems Inc (NASDAQ:CSCO)Q1 2020 Earnings CallNov 13, 2019, 4:30 p.m. And I guess I’m trying to discern sort of the macro versus the product cycle issues. 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 … AppDynamics also achieved another solid quarter. Also read: Cisco Systems (CSCO) Q4 earnings drop but top expectations. Now I would like to introduce Marilyn Mora, Head of Investor Relations. You may begin. Thanks, George. And maybe it’s still yet to come about why things aren’t more positive because the comps are easier, Huawei is less preferred than Cisco. Thank you. Sysco Corp. (NYSE:SYY) Q4 2020 Earnings Call August 11, 2020 10:00 AM ET. 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. You may go ahead. By now, you should have seen our earnings press release. Yes. From a non-GAAP profitability perspective, total Q4 gross margin was 65%, down 0.5 points. But that’s — it’s a real cost out that we’re taking out as we go through into our planning. Welcome to Alico's Fourth Quarter and Full Year 2020 Earnings Conference Call. Sue, let’s go ahead and move to the next question. Cisco: Cisco Systems (CSCO) Q4 2020 Results - Earnings Call Transcript From a bottom line perspective, non-GAAP net income was $13.7 billion, down 1% and non-GAAP EPS was $3.21, up 4%. Motley Fool Transcribers The Motley Fool Published. In Q2 fiscal 2019, we completed the sale of our SPVSS business, as such all of the financial information we will be discussing is normalized to exclude the SPVSS business from our historical results. Welcome to Cisco’s Fourth Quarter and Fiscal Year 2020 Financial Results Conference Call. And I do think, Kelly made a good point. Mike McMullen — President and Chief Executive Officer. The next question is from Paul Silverstein with Cowen. By now, you should have seen our earnings press release. Image source: The Motley Fool. We also saw solid growth in AppDynamics and IoT software. But as you know, Jim, we forecast based on what we see, based on the order rates and we feel this is a pretty accurate guide. Yes. I’ll now turn it back to Marilyn. Hey, thanks for the question, guys. Download, follow and add "Cisco Systems, Inc." earnings calls to your podcast at EarningsCast. Let me provide some more detail on our Q4 revenue. Yes. While our results reflect the ongoing challenges in the current environment, we executed well. I wanted to follow up, Chuck, on the Cat 9K, because you did mention the strength there. ET Prepared … 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. Once again, I want to thank our teams for what we’ve achieved. You may disconnect at this time. So and look I think that we’ve made a lot of progress. We were talking about this in the last week or so. 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. So Kelly anything to add? So, thank you for the duration. Great. Yes. Thank you. I want to let you all know that Kelly has made the decision to retire from Cisco. Any opinion expressed in the transcript does not necessarily reflect the views of AlphaStreet, Inc. © COPYRIGHT 2020, AlphaStreet, Inc. All rights reserved. I just want to recap and just thank, first of all, Kelly for everything and the friendship and all the great work that you’ve done and reiterate that she is going to stay with us until we actually identify her successor. Dec 9, 2020 4:00PM EST. At the request of Cisco Systems, today's conference is being recorded. 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