Cisco said total revenue for Q2 of fiscal 2025 increased 9% compared with the prior-year quarter, with product revenue up 11% and services revenue up 6%. Excluding Splunk, total revenue decreased 1%.

10-QQuarterly reportFiled Feb 18, 2025Period of report Jan 25, 2025Summary published (UTC) Oct 10, 2026

Key points

AI summary

Cisco said total revenue for Q2 of fiscal 2025 increased 9% compared with the prior-year quarter, with product revenue up 11% and services revenue up 6%. Excluding Splunk, total revenue decreased 1%.
The company said the 11% increase in product revenue for Q2 was driven by growth in Security of 117%, Observability of 47% and Collaboration of 1%, partially offset by a decline in Networking of 3%. It added that the growth in Security and Observability was driven in large part by the contribution of Splunk.
The company cited incremental operating expenses from Splunk and higher amortization of purchased intangible assets as reasons for the 1.9 percentage points decline in operating income as a percentage of revenue in Q2. It said diluted earnings per share decreased 6%, net income decreased 8%, and diluted share count decreased by 68 million shares.
The company said cash and cash equivalents and investments decreased in the first 6 months of fiscal 2025, driven primarily by repurchases of common stock of $3.2 billion and cash dividends of $3.2 billion. Operating activities provided net cash of $5.9 billion in the same period.

Key figures

Quarter ended January 25, 2025

Revenue: $14.0B
Operating income: $3.1B
Net income: $2.4B
EPS: $0.61
Gross profit: $9.1B

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.

Q2 Total Revenue Up 9%, Down 1% Excluding Splunk

Cisco said total revenue for Q2 of fiscal 2025 increased 9% compared with the prior-year quarter, with product revenue up 11% and services revenue up 6%. Excluding Splunk, total revenue decreased 1%.

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

Product Revenue by Category: Security Up 117%, Networking Down 3%

The company said the 11% increase in product revenue for Q2 was driven by growth in Security of 117%, Observability of 47% and Collaboration of 1%, partially offset by a decline in Networking of 3%. It added that the growth in Security and Observability was driven in large part by the contribution of Splunk.

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

Q2 Operating Income Margin Down 1.9 percentage points, Diluted EPS Down 6%

The company cited incremental operating expenses from Splunk and higher amortization of purchased intangible assets as reasons for the 1.9 percentage points decline in operating income as a percentage of revenue in Q2. It said diluted earnings per share decreased 6%, net income decreased 8%, and diluted share count decreased by 68 million shares.

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

6-Month Decrease in Cash and Investments, Shareholder Returns and Operating Cash Flow

The company said cash and cash equivalents and investments decreased in the first 6 months of fiscal 2025, driven primarily by repurchases of common stock of $3.2 billion and cash dividends of $3.2 billion. Operating activities provided net cash of $5.9 billion in the same period.

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 ↗

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