Network gear maker Cisco Systems Inc. (NASDAQ: CSCO) on Wednesday said its second-quarter 2023 revenue and adjusted net profit increased from last year.
Excluding special items, adjusted earnings rose to $0.88 per share in the most recent quarter from $0.84 per share in the same period of 2022. Unadjusted net income was $2.8 billion or $0.67 per share, compared to last year’s profit of $3.0 billion or $0.71 per share.
Second-quarter revenues increased 7% year-over-year to $13.6 billion, with strong contributions from the core Secure, Agile Networks division.
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“The modern, highly secure networks we are building serve as the backbone of our customers’ technology strategy. This, combined with the success of our ongoing business transformation and operational discipline gives me confidence in our future,” said Cisco’s CFO Chuck Robbins.