by Joe Panettieri • Nov 17, 2022
Cisco Systems‘ end-to-end security business grew 9% in the company’s latest quarter, driven by unified threat management and Zero Trust offerings — including the Duo platform, according to Cisco CFO Scott Herren.
Scott Herren, CFO, Cisco Systems
The comments — which surfaced during Cisco’s earnings call on November 16, 2022 — come at a key time for the networking company and its channel partners.
Fast forward to November 2022, and Cisco’s top four priorities in the security market include:
- Address product scalability and quality
- Focus on the experience
- Deliver a unified platform for the cloud
- Improve core security features.
Cisco Executive VP Jeetu Patel described progress on those four fronts during Cisco Partner Summit in early November 2022.
Cisco Security: Partner Opportunities
To win business today, Cisco is calling on channel partners and MSPs to:
- Secure and/or refresh the base with the new firewall capabilities.
- Sell the end-to-end story, while positioning the resulting experience becomes a force multiplier.
- In addition to selling to CISOs, sell to the security operations center team.
To stir customer demand and awareness, Cisco is planning a $20 million “Secure the Enterprise” branding campaign.
Meanwhile, Cisco’s overall business appears to be holding up well despite Wall Street’s concerns about a potential recession. For its Q1 of 2023, Cisco said:
- Revenue was $13.6 billion, up 6% compared to the corresponding quarter last year.
- Net income was $2.7 billion, down 10% from the corresponding quarter last year.
The figures generally beat Wall Street’s expectations.
Cisco Layoffs 2022: Some Job Cuts, Real Estate Reductions
Nevertheless, Cisco is maintaining a sharp focus on cost controls. The company plans to cut about 5% of its staff — or roughly 4,165 employees — while also cutting back on real estate holdings, Silicon Valley Business Journal reported.