Revenue rose 4% YoY
Technology (QQQ) company Cisco Systems’ (CSCO) Collaboration business posted a 4% revenue rise on a YoY (year-over-year) basis in fiscal 2Q17. Revenue in this segment rose from $1.0 billion in fiscal 2Q16 to $1.1 billion in fiscal 2Q17.
Cisco’s Collaboration business helps individuals work together to achieve a common business purpose. Work can be synchronous, that is, individuals are able to work together in real time via online meetings, instant messaging, or video conferencing with programs such as Skype (MSFT).
What impacted revenue in fiscal 2Q17?
Cisco announced the Cisco Spark Board, the first all-in-one, cloud-based collaboration and meeting room service, in fiscal 2Q17. The Cisco Spark Board allows screen sharing as well as video conferencing and interactive whiteboarding. Cisco has acquired several customers since the launch of this product.
Cisco’s CEO, Charles Robbins, stated, “In the few weeks since launch, we have already had several hundred Cisco Spark Board customers who will be receiving ongoing innovation as part of the Cisco Spark subscription that they purchased together with the device.”
Cisco announced a strategic partnership with Salesforce (CRM) in fiscal 1Q17. The partnership will integrate Cisco’s cloud collaboration platform with Salesforce’s Lightning platform. Another major alliance that Cisco announced in fiscal 1Q17 was one with IBM (IBM). The alliance is expected to enhance customers’ collaboration experiences by integrating Cisco’s WebEx offerings with IBM’s cloud collaboration solutions.