And Kelly actually helped us make that choice. Our focus is on winning with a differentiated innovation portfolio, long-term growth and being a trusted technology partner for our customers. Thank you. Yeah. By combining our leading solutions, SD-WAN and Umbrella with our new secure Internet gateway capabilities, our customers can deploy solutions to enable their users to simply and securely access cloud workloads and SaaS applications. On the commercial and federal segments, I think what I would say is it — I would say in commercial, I would assume that there was some aspect of that. Total revenue was $11.9 billion, down 9% year-over-year. I think that we also talked about the Cat 9K continued to show strength with double-digit demand growth, and it — and so, what we think is going to happen is when customers go back, they are going to ensure that they have robust infrastructure. You were pretty downtrodden on the initial earnings call, heading into fiscal Q1. Can you tell us if duration — how duration is changing? Again, I’d like to remind the audience that in light of Regulation FD, Cisco’s policy is not to comment on its financial guidance during the quarter, unless it is done through an explicit public disclosure. You may go ahead, sir. Cisco Systems, Inc. engages in the design, manufacture, and sale of Internet Protocol based networking products and services related to the communications and information technology industry. So in closing, Cisco’s next quarterly earnings conference call, which will reflect our fiscal 2021 second quarter results, will be on Tuesday, February 9, 2021 at 1:30 PM Pacific Time, 4:30 PM Eastern Time. What I think has happened is, I think customers have come to grips with the fact that this thing is going to be with us for some period of time. You may go ahead, sir. Chuck. Our acquisition strategy hasn’t changed, just to be clear. By combining AppDynamics and ThousandEyes, our cloud-based networking monitoring platform, we are delivering full stack observability to help our customers better manage their applications and improve their digital experiences through end-to-end visibility, deep insights and automated action. Any insight you can offer on that particular dynamic from a longer-term perspective? And so, if you look at across the core infrastructure, enterprises are going to upgrade their core infrastructure. And so, we feel good about that. We had — we did have some pretty significant compares from the year earlier, which contributed to that. We'll discuss this more in a moment. Throughout this conference call, we will be referencing both GAAP and non-GAAP financial results and will discuss product results in terms of revenue and geographic and customer results in terms of product orders, unless stated otherwise. We continue to see growth of the Cat 9K and the ramp of our Wi-Fi 6 products. Welcome to Cisco’s First Quarter Fiscal Year 2021 Financial Results Conference Call. With respect to guidance, please also see the slides and press release that accompany this call for further details. Let me provide more detail on our Q1 revenue. Thanks for the question, and congrats again on the retirement, Kelly. For services, it’s still growing for us. Perfect. And so, we — it was not anything that would give us a trend. We remain closely aligned with our customers to provide them with the mission critical technology they need to stay resilient and move towards adopting new hybrid work models. But I’m happy to see where we are this quarter on pricing. We are reimagining every aspect of the collaboration experience with built-in AI technology, security and integrated workflow applications to create a more intelligent work environment and to improve productivity. Great, thanks. And just as a reminder, we’ve annualized all of the price increases we did a year ago for the list for tariffs. (NYSE: ACN) has successfully sailed through the virus crisis so far, and is currently expanding its cloud services in a big way to help enterprises effortlessly go digital. It’s been an incredible partnership. Cisco Systems (CSCO) Q4 2020 Results - Earnings Call Transcript Cisco Systems, Inc. (NASDAQ:CSCO)Q4 2020 Earnings CallAugust 12, 2020 4:30 pm ETExecutivesMarilyn Mora - Cisco Systems, Inc.Charles H. amp video_youtube Aug 12 In security, we delivered another solid quarter of growth, driven by our broad cloud-native portfolio. The Motley Fool - CSCO earnings call for the period ending September 30, 2020. We’re in the middle of infrastructure to support it. And it’s been a pleasure, Kelly. Can you give us some context about areas where you feel that you’re growing share, maintaining share and areas where you see some challenges? We have provided historical financial information for the SPVSS business in the slides that accompany this call and on our website to help to understand these impacts. The continued growth in RPO demonstrates the strength of our portfolio in software and services. By now, you should have seen our earnings press release. We have technology that we’ve built in that I’ve actually seen working this week, where we have sensors in the units that — not only will you have high definition video, but we have sensors in the units that actually monitor how many people are in a room and you get warnings if you’re exceeding whatever capacity the company has defined for that room. Welcome to Cisco's First Quarter Fiscal Year 2020 Financial Results Conference Call. I think that we were minus 23% [Phonetic] last quarter in the midst of the whole SMB meltdown that we knew was going on, and it was minus 8% [Phonetic] this quarter. This is why we are driving new innovation that helps our customers connect, secure and automate their environments at a faster pace than ever before. I’ll offer good luck to you, Kelly, as well. And so, when we get to the end of fiscal ’21 — and you had a lot of early adopters, and we didn’t hit scale till sort of the middle of next year. This transcript is provided as is without express or implied warranties of any kind. He is going to be fantastic for the Company. Yeah, I’ll give you my quick perspective, Tal, and then Kelly can add to it. And we heard — we also heard that, from the European team, they’ve [Phonetic] got a lot of benefit from the stimulus. Thank you, James Fish from Piper Sandler. The application is the lifeline for all organizations and is increasingly how end users access their products and consume their services. On the — and the pipeline looks very strong. Any opinion expressed in the transcript does not necessarily reflect the views of AlphaStreet, Inc. © COPYRIGHT 2020, AlphaStreet, Inc. All rights reserved. We ended Q1 with total cash, cash equivalents and investments of $30 billion. Hey, Ittai, thanks for the comments and the questions. Thanks Kelly. Hi guys. So it is — and it is math to some extent, but I think that some of the things that we talked about earlier, the things that have given us — it’s hard to say super-optimistic because the numbers still aren’t where we want them to be. So we’ve got the Cat 9K and Wi-Fi 6, which is the future modern platforms that the Company has been moving to that continue to show strength. Our customers are also looking for highly secure, high-speed, low-latency connectivity to the Internet. On pricing — and thanks for the kind words there, Paul. And we’re just — I mean, that’s kind of what is driving. And when we talk to our leaders around the world, that is one area that is pretty consistent that most of them feel pretty good about and particularly in the US where it’s a big piece of the business regardless of administration. I guess a couple of things for me. And so, while we have to wait and see, we’re optimistic about it. And then, I know, Chuck, you said you’re not that concerned by the enterprise orders. So I think it’s — the short answer is, Rod, it’s largely a couple of big deals a year ago and we see the funnel strengthening. And so that was a beginning of fiscal ’18. Most recently, Scott served as the CFO for Autodesk. Why would one be so much stronger than the other? In terms of the bottom line from a GAAP perspective, Q1 net income was $2.2 billion and EPS was $0.51. Our overall Q1 results reflect good execution with strong margins in a challenging environment. So on the — in fact, one of the comment on that, in the US, we saw service provider flat and that — and a lot of that was strength in the MSDC web scale space. Whether at home or in the office, our customers need a solution that brings together meetings, calling, file sharing and messaging with a simple and highly secure user experience. For either Chuck or Kelly, can you help us reconcile or bridge the gap between — public sector orders were up 5%. And I think also the web scale and the service provider, 5G build-outs, we feel like those are going to continue. Yeah, the orders versus revenue, it’s really just timing of when things are and whatnot. Thank you. Our customers are rethinking how they support and serve their customers and their employees. In terms of orders in Q1, total product orders were down 5%. In Q1, as you've seen, we had revenue growth of 2% and double-digit non-GAAP earnings per share growth. The third area is focused on helping communications providers succeed with significant architectural transitions like 400 gig and 5G. Non-GAAP earnings per share is expected to range from $0.74 to $0.76. I also want to congratulate Scott on his new role. In terms of questions, first off, Kelly, can you update us on what you’re seeing in pricing environment? With that, I’ll now turn it over to Chuck. Paul Silverstein from Cowen & Co. You may go ahead, sir. I assume you’re sort of coming up on that first round of three-year subscriptions coming due. Ma'am, you may begin. And as you look through the rest of the fiscal year, is this the sequential improvement that you’re looking for? And so our teams continue to work on building out our overall stack for how we’re playing that OpenRAN space over time. My investments are based on Fundamental Analysis, taking a look at stock earnings, financial documents. As is customary, in Q1, we have made certain reclassifications to prior-period amounts to conform to the current period’s presentation. We saw declines across switching, routing, data center and wireless, driven primarily by the weakness we saw in the enterprise and commercial markets. On the other hand, I look at your numbers, infrastructure platforms are down 16% year-over-year, 15.9%, let’s say 16%. I guess my question is building on the last question. Next question? And there is — we have a large installed base out there. Income statements, full GAAP to non-GAAP reconciliation information, balance sheets, cash flow statements and other financial information can also be found in the Financial Information section of our Investor Relations website. | Source: Seeking Alpha Cisco F1Q07 (Qtr End 10/28/06) Earnings Call Transcript Nov. 8, 2006 | Price: Free! Thank you. Relative to our infrastructure platforms, our Cat 9K family of switches and Meraki cloud-based platforms continue to perform well, as our customers build highly-secure, resilient and scalable networks as the foundation for their digital strategies. Thanks Chuck. Thanks Michelle. Thank you. We see real momentum in security. Now, I would like to introduce Marilyn Mora, Head of Investor Relations. Our teams are executing with excellence, and we continue to make steady progress on our shift to a software and subscription-driven model. So thank you all for joining us today and we’ll look forward to talking to you again next quarter. CSCO Earnings Call - Final Transcript August 12, 2020 Cisco Systems Inc. (NASDAQ: CSCO) Q4 2020 earnings call dated Aug. 12, 2020 And again, I do appreciate everybody in this industry and it’s been a great relationship. And so, you’ll see us with a similar offer, but more of what I’m talking about is looking at what aspects of our intellectual property, can we pull, can we integrate together and can we deliver as a cloud service? But. So, that gives us a fair amount of optimism. That’s no different than I normally go through. Product gross margin was 65.3%, down 0.8 points and service gross margin was 67.1%, up 1.7 points year-over-year. All comparisons made throughout this call will be on a year-over-year basis. Software subscriptions were 78% of total software revenue up 7 points year on year. As such, all of the revenue, non-GAAP, and product orders information we will be discussing is normalized to exclude the SPVSS business from our historical results. Thank you. I’d just say this, again, back to the earlier point, we have been consistently shifting the revenue mix. 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Look back on the retirement, Kelly, can you tell us if duration how...