Cisco Systems, a global leader in networking solutions, has announced a restructuring of its revenue reporting structure effective Q1 FY 2024.
San Jose, CA-based Cisco believes that the reorganization will provide stakeholders with a more detailed view of the company’s performance across various product and service categories.
Starting in the first quarter of fiscal year 2024, Cisco will report its product and service revenue in the following categories: Networking, Security, Collaboration, Observability and Services.
Routed Optical Networking
Silicon & Optics
SASE + NetSec
Zero Trust Security
Detection & Response
In addition to the product and service categorization, Cisco will also report its customer markets in the following categories effective Q1 FY 2024: Enterprise, Public Sector, and Service Provider & Cloud.
For the fiscal year 2023, Cisco today revealed the following revenue breakdown for its respective business segments:
Networking: $34,570 million
Security: $3,859 million
Collaboration: $4,052 million
Observability: $661 million
Services: $13,856 million
This strategic shift in reporting is expected to provide a more granular insight into Cisco’s diverse offerings and assist in better understanding the performance and growth in each business segment.