CSCO Cisco (CSCO) Q2 FY25 earnings call
Cisco delivered a strong Q2 FY25, exceeding guidance on top and bottom lines, driven by robust AI infrastructure orders, accelerating product order growth, and significant expansion in recurring revenue streams. The company is actively integrating Splunk, launching new AI-focused products, and navigating potential tariff impacts while maintaining a strong capital allocation strategy. Management expressed confidence in continued momentum into the second half of FY25, emphasizing innovation and strategic investments.
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CSCO operating KPIs by quarter
| KPI | This call Jan 2025 Q2 FY25 | Apr 2025 Q3 FY25 | Jul 2025 Q4 FY25 | Oct 2025 Q1 FY26 | Jan 2026 Q2 FY26 | Apr 2026 Q3 FY26 | Jul 2026 Q4 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|---|
| Annual recurring revenue (ARR) | $30.1BTotal ARR ended the quarter at $30.1 billion, an increase of 22% with product ARR growth of 41%.Source: earnings call transcript | $30.6BTotal ARR ended the quarter at $30.6 billion, an increase of 5% with product ARR growth of 8%.Source: earnings call transcript | $31.1BTotal ARR ended the quarter at $31.1 billion, an increase of 5% with product ARR growth of 8%.Source: earnings call transcript | $31.4BTotal ARR ended the quarter at $31.4 billion, an increase of 5%, with product ARR growth of 7%.Source: earnings call transcript | $31BTotal ARR ended the quarter at $31 billion, an increase of 3% with product ARR growth of 6%.Source: earnings call transcript | $31.2BTotal ARR ended the quarter at $31.2 billion, an increase of 2%, with product ARR growth of 4%.Source: earnings call transcript | $32.1BTotal ARR ended the quarter at $32.1 billion, an increase of 3%, with product ARR growth of 5%.Source: earnings call transcript | +2.9% |
| Remaining performance obligation (RPO) | $41.3BAnd total RPO was $41.3 billion, up 16%, product RPO grew 25%, and total short-term RPO was up 17% to $21 billion.Source: earnings call transcript | $41.7BTotal RPO was $41.7 billion, up 7%.Source: earnings call transcript | $43.5BTotal RPO was $43.5 billion, up 6% and Product RPO grew 8%, and total short-term RPO was $21.7 billion, up 4%.Source: earnings call transcript | $42.9BTotal RPO was $42.9 billion, up 7%.Source: earnings call transcript | $43.4BTotal RPO was $43.4 billion, up 5%.Source: earnings call transcript | $43.5BTotal RPO was $43.5 billion, up 4%.Source: earnings call transcript | $46.7BTotal RPO was $46.7 billion, up 7%, with product RPO up 9%.Source: earnings call transcript | +7.4% |
| Remaining performance obligation (RPO) Short-term | $21BAnd total RPO was $41.3 billion, up 16%, product RPO grew 25%, and total short-term RPO was up 17% to $21 billion.Source: earnings call transcript | $21.1BAnd total short-term RPO and was $21.1 billion, up 5%.Source: earnings call transcript | $21.7BTotal RPO was $43.5 billion, up 6% and Product RPO grew 8%, and total short-term RPO was $21.7 billion, up 4%.Source: earnings call transcript | — | — | — | — | +2.8% |
| Remaining performance obligation (RPO) Product Long-term | — | — | — | $11.8BProduct RPO grew 10%, of which the long-term portion was $11.8 billion, up 13%.Source: earnings call transcript | $11.8BProduct RPO grew 8%, of which the long-term portion was $11.8 billion, up 11%.Source: earnings call transcript | — | — | 0% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.