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CLAIM #17645 · CSCO (CSCO) · 2023Q4 earnings call · Aug 16, 2023 · due Jul 31, 2024

We have we expect this year to renew enterprise networking software at close to $1 billion.

Chuck Robbins · CEO

PENDING
graded after results covering Jul 31, 2024 are reported

In context

ple of things. Number one, we have begun to deliver on monitoring and then subsequent management of our Catalyst, the traditional Catalyst portfolio with the Meraki dashboard. And that's a real advantage for customers. It allows them to run a hybrid of the two portfolios. It allows them to have visibility from one dashboard to both sets of portfolios. And so that's been really well received. It has been a key driver in significant improvement in our renewal rates on the software side. And while I'm talking about it, I thought I would share one milestone with you. I've been asked for a few years, when do we think the software renewals in the enterprise networking space would be meaningful. And FY'24 is the first year, I think, it will be meaningful. So just to give you a perspective on it. We have we expect this year to renew enterprise networking software at close to $1 billion. So the transition that we've been going through for all these years is going to hopefully begin to start to pay solid benefits for us going forward. But that's what's going on in that portfolio. Scott, you want to talk about orders? Scott Herren: Trajectory of orders, yes. And, Michael, thanks for that question. What I'd say is, if you remember our commentary from the last call, we said there were kind of three things going on inside product orders. One was the lead times were normalizing, going from being fairly lengthy to going back to a normal level, which, of course, if the lead time yesterday was 30 weeks and today it's 10 weeks means you don't have to place another order for 20 weeks. Those are mostly normalized. They will finish being normalized certainly in the first half of fisca

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SEC filings for CSCO · Claim quote is verbatim from the 2023Q4 earnings call.