We all received a huge incentive bonus in the wake of the greatest sales revenue in FY23Q3 and FY23Q4. Why are you guys talking about LR and layoffs coming in Feb? That should never happen.
As many as 10000 employees? 18000 employees? No way! Even if there is, not that many. Most likely in Sales in US only. Not in EMEA and APJC.
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Bookings != revenue.
So, although customers are still paying us (revenue) for stuff they ordered a while ago, they aren’t ordering as much for the future (bookings).
Eventually, revenue will follow the bookings.
No other company in Tech used that lame excuse of "customers taking time to deploy the backlog". Not Arista (who soon will become the dominant Ethernet player in the market for DC and Campus), nor Nvidia/Broadcom/NetApp/Pure/etc. This followed by LC talking in Dahhhhh-vos about ethical AI and AI readiness index cr-p, or CR again in Dahhhh-vos talking how AI is not as great as people think - clearly show Cisco missed yet another growth vector, and is trying the age-old technique of slowing momentum to try to catch up. The general view in Silicon Valley is Cisco is just waking up from a very long nap!
That should never happen.
Yes! Revenues can only increase forever because that's how it works!
We did have record quarters but now we have to make room for all the Splunk employees we're acquiring.
The huge quarter was just burning through the remainder of the Covid backlog. The hype around it was knowingly deceptive by Robbins, Davidson etc.
No Hope if you are a red badger, sales, collab or engineering.
Believe what you want but there will be 20K layoffs in calendar year 2024