Channeling Security: Cisco's Benvenuto Sees 30% Margins Continuing, Avnet Launches MSSP Service
Cisco announced this week its FY17 Q1 earnings results, and security is again the company’s fastest-growing market segment, up 11 percent. Next-gen routing was the next most popular category, rising 6 percent, while switching revenue continued to slide, off 7 percent.
Steve Benvenuto, Cisco’s senior director, global security partner sales, global security sales organization, said security product revenue exceeds a $2 billion annualized run rate. Within the security portfolio, high points are 5,300 new customers for the ASA next-generation firewall product, bringing the base to 62,000, and growth in software, services and recurring revenue.
“Our software products in particular are seeing huge growth,” said Benvenuto. “Our Advanced Malware Protection [AMP] software that is deployed on top of other products grew 70 percent, reaching 22,000 customers globally.”