Cisco delivered the largest quarterly revenue in the company’s history. In its fiscal first quarter of 2023 revenue was $13.6 billion, up 6%.
Net income in the period dropped 10% to $2.7 billion. Cisco posted $10.3 billion in product-related revenue, an increase of 8%, though services were flat at $3.4 billion. Total software revenue increased 5% year-on-year and software subscriptions went up 11%.
During the earnings call, company CEO Chuck Robbins noted a redesign of many products and action taken over several quarters to alleviate supply chain issues yielded positive results. “We were encouraged by what we were seeing with modest improvement in certain component availability, as shortages continued to ease from last quarter.“
He noted the easing supply constraints were now releasing software subscriptions that were sitting in backlog connecting to unshipped hardware. “Our business model is resilient with 43% of our revenue now recurring, which is very important as we navigate the current macro environment,“ Robbins said.
When the largest amusement park in Germany, Europa-Park, began constructing its new Croatia area, it found inspiration in Rimac hypercars and technology for its new rollercoaster – the Voltron Nevera Powered by Rimac.
Following the end of the public delisting acquisition offer for Telefónica Deutschland, Telefónica holds approximately 96.85% of the shares in its German subsidiary.
Infobip Shift Miami, the American version of the Croatian developer conference, this week brought together a diverse technology-sector audience on the shores of Florida.
