Q2 fy16 earnings slides final

1. February 10, 2016
Q2 Fiscal Year 2016
Conference Call

2. FORWARD-LOOKING STATEMENTS
This presentation contains projections and other forward-looking statements regarding future events or the future
financial performance of Cisco, including future operating results. These projections and statements are only predictions.
Actual events or results may differ materially from those in the projections or other forward-looking statements. Please
see Cisco’s filings with the SEC, including its most recent filings on Forms 10-K and 10-Q, for a discussion of important
risk factors that could cause actual events or results to differ materially from those in the projections or other forward-
looking statements.
GAAP RECONCILIATION
During this presentation references to financial measures of Cisco will include references to non-GAAP financial
measures. Cisco provides a reconciliation between GAAP and non-GAAP financial information on our website at
www.cisco.com under “Financial Info” in the “Investor Relations” section.
http://investor.cisco.com/investor-relations/financial-information/Financial-Results/default.aspx

3.  Business Momentum & Key Trends
 Financial Overview
 Guidance
 Q&A

4. Q2 FY’16 Highlights
• Delivered a strong Q2 in a challenging macro environment
• Revenue growth of 2%* y/y, non-GAAP EPS growth of 8%* y/y, strong margins
and operating cash flow up 36% y/y
• Our portfolio is more strategic than ever to companies and countries that are
digitizing everything….our conversations are no longer just in IT
• Accelerating our innovation engine and portfolio transformation … momentum
in 4 key areas:
• Defining the next-generation of networking, beginning with the data center with our ACI
platform
• Focused on driving growth in our Security business
• Moving more of our portfolio to be delivered in both on-premise and cloud-based SaaS
models
• Using M&A to augment our internal innovation in key growth areas
* Excludes the SP Video CPE Business for all periods.

5.  Business Momentum & Key Trends
 Financial Overview
 Guidance
 Q&A

6. $M
Y/Y %
Change
Switching $3,483 (4%)
NGN Routing 1,845 5%
Collaboration 1,019 3%
Data Center 822 (3%)
Wireless 613 0%
Service Provider Video* 569 37%
Security 462 11%
Other Products 77 31%
Service 2,944 3%
Total* 11,834 2%
SP Video CPE Business** 93
Total Cisco $11,927 0%
Q2 FY’16 – Revenue Highlights
Certain reclassifications have been made to the amounts for prior periods in order to conform to the
current period’s presentation. Historical revenue by product category and service is available on our
website at http://investor.cisco.com under “Financial Info” in the “Investor Relations” section.
29%
16%
9%
7%
5%
5%
4%
1%
25% Switching
NGN Routing
Collaboration
Data Center
Wireless
SP Video
Security
Other
Service
Revenue % of Total
(excluding SP Video CPE Business)
Percentages may not add up to 100% due to rounding
* Excluding revenue from the SP Video CPE Business for all periods.
** Represents one month of revenue from the SP Video CPE Business which was divested during Q2 FY’16 on November 20, 2015.

7. Q2 FY’16 Product Orders: Geographic Regions & Customer Segments
(excludes SP Video CPE Business for all periods)
Geographic Region Y/Y % Change
Americas 0%
EMEA (1%)
APJC 17%
Total Cisco 2%
Product Book to Bill Approximately 1
Customer Segment Y/Y % Change
Enterprise (2%)
Public Sector 0%
Commercial 4%
Service Provider 5%
Total Cisco 2%

8. Q2 FY’16 Q2 FY’15 Y/Y Change
Excluding
SP Video
CPE
Business$M (except per-share amounts and
percentages)
Total Cisco SP Video*
CPE
Business
Excluding
SP Video
CPE
Business
Total Cisco SP Video
CPE
Business
Excluding
SP Video
CPE
Business
Revenue $11,927 $93 $11,834 $11,936 $361 $11,575 2%
Gross Margin 63.8% 14.2% 64.2% 61.7% 18.2% 63.1% 1.1 pts
Operating Expenses $3,913 $11 $3,902 $3,974 $35 $3,939 (1%)
OPEX (% of Revenue) 32.8% 11.7% 33.0% 33.3% 9.7% 34.0% -1.0 pts
Operating Income $3,693 $2 $3,691 $3,394 $31 $3,363 10%
Operating Income
(% of Revenue)
31.0% 2.5% 31.2% 28.4% 8.5% 29.1% 2.1 pts
Net Income $2,929 $2 $2,927 $2,745 $24 $2,721 8%
EPS (diluted) $0.57 — $0.57 $0.53 — $0.53 8%
Q2 FY’16 Non-GAAP Income Statement Details
* SP Video CPE Business for Q2 FY’16 includes one month of operations as it was divested during the quarter on November 20, 2015.

9. Q2 FY’16 GAAP Income Statement Highlights
$M (except per-share amounts and percentages) Q2 FY’15 Q1 FY’16 Q2 FY’16
Revenue* $11,936 $12,682 $11,927
Product
Service
$9,078
$2,858
$9,844
$2,838
$8,983
$2,944
Gross Margin 59.4% 61.8% 62.3%
Product Gross Margin
Service Gross Margin
58.1%
63.6%
60.9%
64.9%
61.3%
65.5%
Operating Expenses $4,468 $4,753 $4,138
OPEX (% of Revenue) 37.4% 37.5% 34.7%
Operating Income (% of Revenue) 22.0% 24.3% 27.6%
Net Income $2,397 $2,430 $3,147
Year/Year Change 68% 33% 31%
EPS (diluted) $0.46 $0.48 $0.62
Year/Year Change 70% 37% 35%
*Includes SP Video CPE Business revenue for Q2 FY’15, Q1 FY’16 and Q2 FY’16 of $361M, $411M and $93M (one month of operations), respectively.

10. Capital Allocation
$M Q2 FY’15 Q3 FY’15 Q4 FY’15 Q1 FY’16 Q2 FY’16
Share Repurchases $1,208 $1,008 $1,005 $1,207 $1,262
Dividends paid 974 1,070 1,069 1,068 1,065
Total $2,182 $2,078 $2,074 $2,275 $2,327
Share Repurchase Program
Amount Purchased
($M)
Number of Shares
(M)
Avg. Price Per
Share
Q2 FY’16 Purchases $1,262 48 $26.12
Q2 FY’15 Q3 FY’15 Q4 FY’15 Q1 FY’16 Q2 FY’16
Dividends per Share $0.19 $0.21 $0.21 $0.21 $0.21
 Declared a quarterly dividend of $0.26 per common share, a 24% or $0.05 increase
over previous quarter’s dividend.
 Announced a $15B increase to the authorization of the share repurchase program
bringing the total remaining authorization under the program to approximately $16.9B.

11.  Business Momentum & Key Trends
 Financial Overview
 Guidance
 Q&A

12.  Business Momentum & Key Trends
 Financial Overview
 Guidance
 Q&A

13. Q&A

14. FORWARD-LOOKING STATEMENTS
These presentation slides and the related conference call contain forward-looking statements, which are subject to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements regarding future (such as the impact of the
macro environment, our innovation strategy and execution, our ability to shift our business model to more software and recurring revenue, our ability to deliver
profitable growth and strong cash generation, our business strength, financial guidance, and our capital allocation strategy) and the future financial performance
of Cisco that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from
actual future events or results due to a variety of factors, including: business and economic conditions and growth trends in the networking industry, our customer
markets and various geographic regions; global economic conditions and uncertainties in the geopolitical environment; overall information technology spending;
the growth and evolution of the Internet and levels of capital spending on Internet-based systems; variations in customer demand for products and services,
including sales to the service provider market and other customer markets; the return on our investments in certain priorities, including our foundational priorities,
and in certain geographical locations; the timing of orders and manufacturing and customer lead times; changes in customer order patterns or customer mix;
insufficient, excess or obsolete inventory; variability of component costs; variations in sales channels, product costs or mix of products sold; our ability to
successfully acquire businesses and technologies and to successfully integrate and operate these acquired businesses and technologies; our ability to achieve
expected benefits of our partnerships; increased competition in our product and service markets, including the data center; dependence on the introduction and
market acceptance of new product offerings and standards; rapid technological and market change; manufacturing and sourcing risks; product defects and
returns; litigation involving patents, intellectual property, antitrust, shareholder and other matters, and governmental investigations; natural catastrophic events; a
pandemic or epidemic; our ability to achieve the benefits anticipated from our investments in sales, engineering, service, marketing and manufacturing activities;
our ability to recruit and retain key personnel; our ability to manage financial risk, and to manage expenses during economic downturns; risks related to the global
nature of our operations, including our operations in emerging markets, currency fluctuations and other international factors; changes in provision for income
taxes, including changes in tax laws and regulations or adverse outcomes resulting from examinations of our income tax returns; potential volatility in operating
results; and other factors listed in Cisco’s most recent reports on Forms 10-Q and 10-K filed on November 19, 2015 and September 8, 2015, respectively. The
financial information contained in these presentation slides and the related conference call should be read in conjunction with the consolidated financial
statements and notes thereto included in Cisco’s most recent reports on Forms 10-Q and 10-K as each may be amended from time to time. Cisco’s results of
operations for the three and six months ended January 23, 2016 are not necessarily indicative of Cisco’s operating results for any future periods. Any projections
in these presentation slides and the related conference call are based on limited information currently available to Cisco, which is subject to change. Although
any such projections and the factors influencing them will likely change, Cisco will not necessarily update the information, since Cisco will only provide guidance
at certain points during the year. Such information speaks only as of the date of these presentation slides and the related conference call.

15. Supplemental Materials

16. Performance against Q2 FY’16 guidance
(excludes SP Video CPE Business for all periods)
$M (except percentages) Q2 FY’16 Guidance Q2 FY’16 Actual
Revenue $11,834
Year/Year Change 0% - 2% growth 2%
Non-GAAP Gross Margin 62% - 63% 64.2%
Non-GAAP Earnings per Share* $0.53 - $0.55 $0.57
* Does not change by either including or excluding the SP Video CPE Business which was divested during Q2 FY’16 on November 20, 2015.

17. Q2 FY’16 Non-GAAP Income Statement Highlights
$M (except per-share amounts and percentages) Q2 FY’15 Q1 FY’16 Q2 FY’16
Revenue* $11,936 $12,682 $11,927
Year/Year Change
Product
Service
7%
$9,078
$2,858
4%
$9,844
$2,838
0%
$8,983
$2,944
Gross Margin 61.7% 63.2% 63.8%
Product Gross Margin
Service Gross Margin
60.8%
64.8%
62.3%
66.2%
62.8%
66.7%
Operating Expenses $3,974 $4,141 $3,913
OPEX (% of Revenue) 33.3% 32.7% 32.8%
Operating Income (% of Revenue) 28.4% 30.5% 31.0%
Net Income $2,745 $3,024 $2,929
Year/Year Change 9% 8% 7%
EPS (diluted) $0.53 $0.59 $0.57
Year/Year Change 13% 9% 8%
*Includes SP Video CPE Business revenue for Q2 FY’15, Q1 FY’16 and Q2 FY’16 of $361M, $411M and $93M (one month of operations), respectively.

18. Q2 FY’16 Key Financial Measures
$M (except DSO, non-GAAP inventory turns and headcount) Q2 FY’15 Q1 FY’16 Q2 FY’16
Cash and Cash Equivalents and
Investments $53,022 $59,107 $60,375
Operating Cash Flow $2,883 $2,766 $3,922
Accounts Receivables $4,541 $4,712 $4,302
Days Sales Outstanding 35 34 33
Inventory $1,890 $1,482 $1,362
Non-GAAP Inventory Turns 10.2 12.0 12.2
Purchase Commitments $4,257 $4,028 $3,435
Deferred Revenue $14,021 $15,162 $15,185
Product Deferred Revenue $5,001 $5,473 $5,528
Service Deferred Revenue $9,020 $9,689 $9,657
Headcount 70,112 72,063 71,657

19. $M (except per-share amounts)
Q1
FY’15
Q2
FY’15
Q3
FY’15
Q4
FY’15
Q1
FY’16
Q2
FY’16**
Revenue $479 $361 $519 $487 $411 $93
Gross Margin $96 $66 $84 $83 $43 $13
Operating Expenses $38 $35 $37 $37 $32 $11
Operating Income $58 $31 $47 $46 $11 $2
Net Income $45 $24 $36 $37 $8 $2
EPS (diluted) $0.01 — $0.01 $0.01 — —
SP Video CPE Business
Historical Financial Information*
* Stand-alone financial information is unaudited.
** Represents one month of results as the SP Video CPE Business was divested during Q2FY’16 on November 20, 2015.

20. Q2 FY’16 Geographic Revenue and Total Gross Margin
Excluding SP Video CPE Business
Revenue Total Gross Margin Percentage
$M (except percentages) Q2 FY’15 Q1 FY’16 Q2 FY’16 Q2 FY’15 Q1 FY’16 Q2 FY’16
Americas $6,808 $7,487 $6,846 63.7% 65.7% 64.3%
EMEA 3,040 3,002 3,065 63.0% 65.5% 65.4%
APJC 1,727 1,782 1,923 60.7% 60.5% 61.8%
Geographic Total $11,575 $12,271 $11,834 63.1% 64.9% 64.2%
Including SP Video CPE Business
Revenue* Total Gross Margin Percentage
$M (except percentages) Q2 FY’15 Q1 FY’16 Q2 FY’16 Q2 FY’15 Q1 FY’16 Q2 FY’16
Americas $7,101 $7,799 $6,912 62.0% 63.5% 63.8%
EMEA 3,091 3,087 3,088 61.8% 64.2% 64.9%
APJC 1,744 1,796 1,927 60.3% 60.0% 61.7%
Geographic Total $11,936 $12,682 $11,927 61.7% 63.2% 63.8%
*Includes SP Video CPE Business revenue for Q2 FY’15, Q1 FY’16 and Q2 FY’16 of $361M, $411M and $93M (one month of operations), respectively.