The company said total revenue for fiscal 2024 decreased 6% from the prior year, with product revenue down 9% and services revenue up 5%. It said the Splunk acquisition, completed in March 2024, contributed about $1.4 billion in revenue.

10-KAnnual reportFiled Sep 5, 2024Period of report Jul 27, 2024Summary published (UTC) Oct 23, 2026

Key points

AI summary

The company said total revenue for fiscal 2024 decreased 6% from the prior year, with product revenue down 9% and services revenue up 5%. It said the Splunk acquisition, completed in March 2024, contributed about $1.4 billion in revenue.
Cisco said Networking product revenue fell 15%, or $5.3 billion, while Security rose 32% and Observability rose 27%. The company attributed the increases in Security and Observability largely to the contribution from Splunk.
The company said operating income for fiscal 2024 fell 19%, and operating income as a percentage of revenue dropped 3.8 percentage points. It cited lower revenue, incremental operating expenses from Splunk, higher restructuring and other charges, and higher amortization of purchased intangible assets as the main factors. Restructuring and other charges were $789 million (2023 $531 million).
The company cited the Splunk acquisition net outflow of $27.5 billion, dividends of $6.4 billion and share repurchases of $5.8 billion as the main uses of cash behind the decline in cash and investments in fiscal 2024. It said these were partly offset by net senior notes proceeds of $13.4 billion, operating cash flow of $10.9 billion and net commercial paper issuance of $10.8 billion.

Key figures

Fiscal year ended July 27, 2024

Revenue: $53.8B
Operating income: $12.2B
Net income: $10.3B
EPS: $2.54
Gross profit: $34.8B
Operating cash flow: $10.9B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Total revenue down 6% for the year; Splunk contributed

The company said total revenue for fiscal 2024 decreased 6% from the prior year, with product revenue down 9% and services revenue up 5%. It said the Splunk acquisition, completed in March 2024, contributed about $1.4 billion in revenue.

Source · Based on the MD&A text of the filing

Networking down 15%; Security and Observability up

Cisco said Networking product revenue fell 15%, or $5.3 billion, while Security rose 32% and Observability rose 27%. The company attributed the increases in Security and Observability largely to the contribution from Splunk.

Source · Based on the MD&A text of the filing

Operating margin down 3.8 percentage points on restructuring costs

The company said operating income for fiscal 2024 fell 19%, and operating income as a percentage of revenue dropped 3.8 percentage points. It cited lower revenue, incremental operating expenses from Splunk, higher restructuring and other charges, and higher amortization of purchased intangible assets as the main factors. Restructuring and other charges were $789 million (2023 $531 million).

Source · Based on the MD&A text of the filing

Cash and investments decline; shareholder returns

The company cited the Splunk acquisition net outflow of $27.5 billion, dividends of $6.4 billion and share repurchases of $5.8 billion as the main uses of cash behind the decline in cash and investments in fiscal 2024. It said these were partly offset by net senior notes proceeds of $13.4 billion, operating cash flow of $10.9 billion and net commercial paper issuance of $10.8 billion.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

Unauthorized scraping, data storage and database creation prohibited

Without prior written consent, you must not crawl or scrape data compiled and organized by Chickstock or its analysis and summaries, or collect them repeatedly or in bulk for storage, ingestion or database creation. Repurposing, redistribution, sale and use to build other services are also prohibited.

Unauthorized use may result in access restrictions, demands to stop infringement and delete copies, and claims for damages. Violations of applicable law may also give rise to criminal liability.

Uses permitted by law, the Terms of Service or a separate agreement remain subject to their respective scope. Rights in individual source materials, including original filings, remain with their respective rights holders.