Security revenue rose 11% in the third quarter
Cisco Systems’ (CSCO) security business segment revenue rose 11% YoY (year-over-year) to $583 million in April. This business accounts for 4.7% of total revenue for Cisco and is one of the firm’s high growth businesses. Cisco has made security a feature in all of its products and services. Cisco’s security revenue has risen 10% year-over-year in fiscal 2017 and 8% in the fiscal first quarter.
During Cisco’s third-quarter earnings call, CEO Chuck Robbins stated, “Our architecture delivers highly effective security from the network to the endpoint, to the cloud. This unique ability to bring together networking and security at scale gives us a huge competitive advantage.”
Cisco continues to dominate the security market
Cisco is banking on its large customer base and enterprise security to drive revenue. Cisco’s integrated architecture and industry-leading products have also helped the firm to gain traction in this market. The firm is investing in artificial intelligence (or AI) and machine learning technologies to reduce security detection and remedy time.
Cisco’s Talos intelligence platform blocks 20 billion threats every day. Cisco has introduced a comprehensive and integrated data center security architecture designed to protect the modern data center in a seamless manner across physical and multi-cloud environments.
Cisco is a market leader in security with a share of almost 16%. Other top players include Checkpoint (CHKP), Palo Alto Networks (PANW), Fortinet (FTNT), and Symantec (SYMC) with shares of 12.6%, 14%, 10.6%, and 4.6%, respectively, at the end of 2017.