Cisco problems: $15B backlog, China COVID worries, impact of war in Ukraine Channel Asia


Source: channelasia.tech channelasia.tech

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Chuck Robbins (Cisco) Credit: Cisco Global uncertainties created by ongoing COVID closures and the war in Ukraine continues to impact business for Cisco and its networking competitors. Cisco’s 3Q earnings announced this week show another round of backlog growth — this time to US$15 billion with an additional $2 billion in software backlog and a $200 million earnings hit from the company pulling business from Russia over its invasion of Ukraine. Overall quarterly revenue of $12.8B was flat year-over-year while total product revenue was up three per cent. Two big factors affected Q3 earnings the most, according to Cisco CEO...