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Total software revenue grew 18% and software subscription revenue was up 17% year-over-year. Total annualized recurring revenue (ARR) increased 6% year-over-year to $23.8B, with product ARR up 10%. Remaining performance obligations (RPO) increased 6% year-over-year to $32.1B, with product RPO up 9%.
“In Q3, we delivered record revenue and double-digit growth in both software and subscription revenue. As key technologies like cloud, AI and security continue to scale, Cisco’s long-established leadership in networking, and the breadth of our portfolio position us well for the future,” said CEO Chuck Robbins.
For Q4/23, the company expects EPS in the range of $1.05-$1.07, compared to the consensus of $1.04. Revenue growth is expected in the range of 14%-16% year-over-year.
For the full year, the company expects EPS in the range of $3.80–$3.82, and revenue growth of 10%–10.5%.
