CLAIM #17440 · CSCO (CSCO) · 2022Q1 earnings call · Nov 17, 2021 · due Jul 31, 2022
“I think even looking ahead, Sami, you got to think about that price increase having a bigger effect towards the second half of the year than it will have certainly during Q2.”
Scott Herren · CFO
In context
“y holdups, or any kind of key things you're seeing that's met with some resistance on deploying more public sector or federal government activity? Scott Herren : Sure. I'll start, Sammy, on the price increase question and then -- and I'll let Chuck on public sector. The price increase that we put in place really just became effective on the 1st of September. Most of what we shipped during the quarter, either came out of RPO, so prior sales that are sitting on the balance sheet and then accrued into our revenue. And we've talked about having $15.9 billion now of current RPO. So, none of that, of course, would have had the price increase built into it. And a lot of the hardware shipments came out of backlog during the quarter. And again, none of those would have include that price increase. I think even looking ahead, Sami, you got to think about that price increase having a bigger effect towards the second half of the year than it will have certainly during Q2. Think of that as more of a late Q3, Q4 by the time those price increases turn into orders, those orders work their way through the backlog, get built, and then delivered to customers. Chuck Robbins : And then Sami, thanks for the question. On the public sector situation, we saw -- if you look at our public sector performance on a global basis over the last couple years, it's been very consistent. And I think we've doubled that business since 2017 or something so it's been -- that's the federal business perhaps; our U.S. public sector, but the -- what we saw was we saw a lot of strength in E-Rate. We saw strength in state, local, and education. We saw strength on a Scott Herren : civilian side, and we had a few deals on the DoD side that pushed into Q2 from an order perspective, but it's s”
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SEC filings for CSCO ↗ · Claim quote is verbatim from the 2022Q1 earnings call.