Cisco sets target for 5-7 percent revenue CAGR in next 5 years

News General Global 16 SEP 2021
Cisco sets target for 5-7 percent revenue CAGR in next 5 years

Cisco has set a new target for a compound annual growth rate of 5-7 percent in revenues over the next five years, to fiscal year 2025. At an investors meeting, the company outlined how it plans to build on its expansion in software and subscription services in recent years and grow the business further.

Cisco has not provided financial guidance for several years. CEO Chuck Robbins said the group wants to provide more predictability for shareholders going forward, so it will report on revenues from six business lines in future: Secure, Agile Networks; Optimized Application Experiences; Hybrid Work; Internet for the Future; End-to-End Security; and Capabilities at the Edge. 

Robbins said the company sees an "accelerated digital revolution" underway across all industries, with Cisco well-positioned to support the transformation with its products. The company returned to revenue growth earlier this year already and hit an annual growth rate of 8 percent in the most recent quarter. The CEO added that he was "incredibly optimistic about the future and confident in our ability to deliver". 

 

Categories:

General

Companies:

Cisco

Regions:

Global

Tags:

Enterprise equipment, Financial figures, Network equipment

Related Articles

GLOBAL 10 NOV 2021

Cisco introduces new Enterprise Agreement to manage partner contracts

Cisco announced new services for partners at its annual partner summit. A new Enterprise Agreement (EA) is expected to make it easier for partners and customers to buy, sell, and manage Cisco software and services across a single contract. They will also gain greater insight into SaaS performance with the addition of application outages on the ThousandEyes platform. 

GLOBAL 22 SEP 2021

Cisco appoints new head for security operations

Cisco has announced the departure of its security chief Gee Rittenhouse, SDX Central reported. In a letter to its employees, the company said Rittenhouse will be succeeded by Shaila Shankar, head of the company's cloud and network security team, with immediate effect. Al Huger will replace Shankar in her former position. No reason was given for the departure of Rittenhouse but the executive will stay on for a few months to help with the transition.

GLOBAL 8 SEP 2021

Webex by Cisco hits record 8 bln monthly calls

Cisco announced it is hosting a record 8 billion calls monthly across its cloud calling platforms, the most of any cloud calling provider. To meet enterprises' growing global needs, Cisco said it extended its domestic calling coverage to include the UK, with more than 65 countries now covered with its Cisco Calling Plans and Cloud Connected PSTN services. Webex Calling customers include T-Mobile, Office Depot, Cigna Health, and CDK Global. 

GLOBAL 19 AUG 2021

Cisco forecasts strong growth ahead after 8% rise in July quarter sales

Cisco reported a strong finish to its fiscal year, with revenues in the fourth quarter to July up 8 percent year-on-year to USD 13.1 billion. Net earnings rose 15 percent to USD 3.0 billion or USD 0.71 per share, better than the company's outlook. Cisco expects the growth to continue in the new year, forecasting revenues up 5-7 percent compared to just 1 percent growth in the past year.

GLOBAL 20 MEI 2021

Cisco sales rise 7% in April quarter as product demand improves

Cisco reported better-than-expected results for its fiscal third quarter to April. Revenue rose 7 percent year-on-year to USD 12.8 billion, its first growth in over a year, and earnings were up 5 percent to USD 0.68 per share. The company said it recorded 10 percent annual growth in product orders, the strongest demand in nearly a decade.

GLOBAL 10 FEB 2021

Cisco forecasts return to revenue growth in April quarter after flat Q2

Cisco reported better-than-expected results for its fiscal second quarter to January. Revenues were flat year-on-year at USD 12.0 billion, compared to declines of 9 percent in the previous two quarters. Net profit fell 12 percent to USD 2.5 billion or USD 0.60 per share, but was better than Cisco's guidance for around 55 cents. The company announced a 3 percent increase in its quarterly dividend, to USD 0.37 per share. 

GLOBAL 14 JAN 2021

Cisco agrees big increase in Acacia bid to seal takeover

Cisco has agreed to a big increase in the price it will pay to acquire Acacia Communications, after the latter attempted to withdraw from the deal first agreed in July 2019. Compared to an original offer of USD 70 per share, or USD 2.6 billion in total, Cisco has raised its price to USD 115 per Acacia share, or a total of USD 4.5 billion. Thanks to the new offer, Acacia is dropping its legal action with Cisco and the companies expect to complete the deal by the end of March. 

GLOBAL 28 OKT 2020

Cisco to award USD 1 mln in prizes in Global Problem Solver challenge

Cisco kicked off its fifth annual Cisco Global Problem Solver Challenge. Part of Cisco's commitment to positively impact 1 billion people by 2025, the challenge is an online competition that awards cash prizes to early-stage technology entrepreneurs trying to solve the world's toughest problems.

UNITED STATES 9 SEP 2020

Cisco unveils initiatives to help close digital divide in rural US

Cisco has unveiled new network systems aimed at helping US service providers extend and improve the cost-efficiency of their networks for infrastructure buildouts in rural areas. The systems are also at the disposal of service providers looking to close the digital divide through US government funded programmes. Cisco noted that the government has committed to USD 37 billion in federal funding to closing that divide, especially in rural areas where broadband coverage is insufficient.

GLOBAL 9 APR 2020

Cisco CEO says no plans for job cuts

Cisco CEO Chuck Robbins said he's told staff not to worry about losing their jobs and urged other companies to follow his example when possible. In an interview with Bloomberg, he said the company had the "financial wherewithal" to maintain employment and not contribute to the problems caused by the coronavirus pandemic. 

Just In

19 DEC 16:42

SLT-Mobitel launches 5G network in Sri Lanka

19 DEC 16:19

Dialog Axiata launches 5G network, connects 1.5 million subscribers

19 DEC 15:56

UK govt to ban AI-enabled nudification apps to protect women, girls

19 DEC 15:42

3 UK launches last-minute Christmas sale

Commentary

13:56

Video market set for slower growth ahead

11:38

Netflix buys Warner Bros to deepen content catalogue

11:11

KPN's mixed performance in Q3 raises questions for strategy day

15:26

Stock markets breaking records but what happened to Odido's IPO plans?

Background

01:04

The week in telecom: Wi-Fi bolt-ons take off to boost broadband growth, video market works on consolidation

01:39

The week in telecom: Netflix wins bidding for Warner Bros, Apple poaches new execs, Samsung debuts trifold

13:51

Proximus vs. Telenet: Proximus performs better in Q3 while Telenet uses up cash

14:16

Proximus Domestic still struggling with low margins

Complete profile

Before downloading the whitepaper, we would like to ask you to complete your profile with company and position. After confirming you will receive the white paper.