Application revenue rose 19% in the third quarter
Cisco Systems’ (CSCO) application business segment revenue rose 19% YoY (year-over-year) to $1.3 billion in the quarter ended in April. This business accounts for 10.5% of total revenue for Cisco and was Cisco’s fastest-growing business in the third quarter. Cisco Systems’ Applications business includes revenues from its collaboration vertical as well as analytics and IoT (Internet of Things).
Revenue from this business segment rose 3% YoY (year-over-year) to $4.6 billion in fiscal 2017. Revenue also rose 6% YoY to $1.3 billion in fiscal Q1 and 6% YoY to $1.2 billion in fiscal Q2.
Cisco acquired relationship intelligence company
In the quarter ended April 2018, Cisco introduced new innovations across its collaboration portfolio. The Cisco Spark and WebEx platforms were integrated with new WebEx Meetings and WebEx team applications.
Cisco also enhanced its AI and machine learning capabilities across the collaboration portfolio by acquiring a firm that provides a relationship intelligence platform and robust insights as well as intelligence to improve team meetings and experiences. This acquisition was completed last week.