Cisco Beginning to See Free Webex Trials Converting to Paid Subs, Says CEO
In Webex, Cisco has “the most trusted secure platform for remote collaboration for the enterprise,” said CEO Chuck Robbins on a fiscal Q4 investor call Wednesday. Webex had double-digit growth in the quarter, “as businesses, governments, educators and front-line workers…
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everywhere have embraced remote work,” he said. “We expect this momentum to continue, as we have begun to see the conversion of free trials into paid subscriptions.” Many Cisco customers are delaying their purchasing decisions in certain areas, “while increasing spend in others until they have greater visibility and clarity on the timing and shape of the global economic recovery,” said Robbins. The COVID-19 pandemic has “triggered a massive and rapid shift to remote operations and automation to maximize personal safety.” The stock closed 11.2% lower Thursday at $42.72.