Cisco reported Q2 revenue of $11.6 billion, net income (GAAP) of $2.3 billion or $0.47 per share, and non-GAAP net income of $2.9 billion or $0.57 per share. Total revenue was $11.6 billion, down 2%, with product revenue down 4% and service revenue up 5%. Revenue by geographic segment was: Americas down 3%, EMEA flat, and APJC down 3%.
"We are pleased with the quarter and the continued customer momentum as we help them drive security, automation and intelligence across the network and into the cloud," said Chuck Robbins, Cisco CEO. "This quarter we announced our intent to acquire AppDynamics which, combined with Cisco's networking analytics, will provide customers with unprecedented insights into business performance. We will remain focused on accelerating innovation across our portfolio as we continue to deliver value to customers and shareholders."
Some highlights:
Product revenue performance was led by Security which increased 14%.
Collaboration and Wireless product revenue increased by 4% and 3%, respectively.
NGN Routing, Switching and Data Center product revenue decreased by 10%, 5% and 4%, respectively.
Service Provider Video product revenue decreased by 41%.
Gross Margin -- On a GAAP basis, total gross margin and product gross margin were 62.8% and 61.1%, respectively.
Cash and Cash Equivalents and Investments -- were $71.8 billion at the end of the second quarter of fiscal 2017, compared with $71.0 billion at the end of the first quarter of fiscal 2017, and compared with $65.8 billion at the end of fiscal 2016. The total cash and cash equivalents and investments available in the United States at the end of the second quarter of fiscal 2017 were $9.6 billion.