Cisco Systems, Inc. - CSCO STOCK NEWS

The Cisco Foundation has released its FY24 Impact Report, highlighting significant achievements in global community impact. Through strategic partnerships, the foundation reached over 170 million people in more than 100 countries. Key metrics show that 40% of funded solutions reach over 1 million people annually, and 97% of partners secured additional funding attributed to Cisco's support. The foundation emphasizes that 81% of partner organizations maintain local staff presence, ensuring community-focused approaches. The report also updates on their $100M Climate Regeneration commitment introduced in FY21, which combines grant funding for non-profits with investments in climate initiatives.

Cisco reported Q1 FY2025 revenue of $13.8 billion, down 6% year-over-year, with product revenue declining 9% and services revenue growing 6%. Product orders increased 20% year-over-year (9% excluding Splunk). GAAP EPS was $0.68 (down 24%) and non-GAAP EPS was $0.91 (down 18%). The company showed strong profitability with GAAP gross margin of 65.9% and non-GAAP gross margin of 69.3%. For Q2 FY2025, Cisco projects revenue between $13.75-13.95 billion and non-GAAP EPS of $0.89-0.91. Full-year FY2025 guidance estimates revenue of $55.3-56.3 billion.

Cisco and LTIMindtree have expanded their partnership, with LTIMindtree adopting Cisco Secure Access as its security service edge (SSE) solution to protect 80,000 hybrid workers. The implementation provides secure internet access and advanced zero trust network access with embedded AI. LTIMindtree will also offer next-generation SSE solutions to its global clients through Cisco Secure Access. The partnership focuses on delivering integrated Secure Access Service Edge (SASE) solutions, combining LTIMindtree's vertical expertise with Cisco's technology to provide seamless and secure connected experiences for both remote and in-office workers.

Cisco Systems has mobilized its Crisis Response (CCR) team to support communities affected by Hurricane Helene in western North Carolina. The team deployed 9 staff members and 19 volunteers, installing emergency networking kits with satellite terminals to provide secure connectivity to 11 response organizations. The response effort included support for state emergency management, hospitals, police, and fire departments. Cisco employees contributed over 550 volunteer hours and traveled 7,000 miles delivering equipment. A fundraising campaign raised $800,000, including $359,000 in employee donations and matches, plus $460,000 in corporate grants to support various relief organizations.

Cisco (NASDAQ: CSCO) has unveiled new Wi-Fi 7 access points featuring AI-native capabilities, enhanced security, and smart workspace solutions. The new offering includes self-configuring access points with global use detection and location awareness, integrated with the Cisco Spaces platform for smart workplace transformation. A unified subscription licensing model provides flexible management across cloud, on-premises, and hybrid networks. The system features advanced threat detection, AI-native device profiling, and ThousandEyes integration for performance optimization. The Wi-Fi 7 access points will be available to order in November 2024 with shipping scheduled for December 2024.

Cisco and the OECD have launched the Digital Well-being Hub, a pioneering research initiative to study technology's comprehensive impact on human well-being. The project aims to examine the relationship between digital technologies and factors including life satisfaction, mental health, AI tools, digital skills, and cyber safety.

The study reveals that 40% of adults in OECD countries lack basic digital skills, while over half of workers worry about AI-related bias. The Hub will collect crowdsourced insights and combine them with OECD data to create the world's first holistic view of digital well-being, with findings expected in 2025.

Cisco Systems emphasizes the importance of neurodiversity in the tech workforce, particularly as AI transforms the industry. The company highlights how neurodivergent individuals, especially those with dyslexia, bring valuable skills like enhanced problem-solving, creativity, and pattern recognition. Cisco is implementing initiatives to support neurodivergent talent, including panel discussions on dyslexia, engagement through their Connected Disability Action Network (CDAN), and partnership with Inclusively platform. The company argues that as AI takes over routine tasks, human-centric skills where neurodivergent individuals excel become increasingly valuable.

ePlus (NASDAQ: PLUS) has received five prestigious awards at the 2024 Cisco Partner Summit, including Global and Americas Mass Scale Infrastructure Partner of the Year. The company was recognized for its excellence in building future-ready infrastructure supporting AI innovation through its AI Ignite initiative.

The awards acknowledge ePlus's expertise in developing mass-scale internet infrastructure, AI-optimized data centers, and scalable solutions with enhanced security. The company's achievements include engineering large-scale networks for service providers, enterprises, and education networks, while ensuring energy efficiency through Cisco's Silicon One architecture.

Other awards received include U.S. East Collaboration Partner of the Year, U.S. East Software Partner of the Year, and U.S. Northeast Partner of the Year.

Cisco Systems partners with Code.org, a nonprofit organization focused on expanding computer science education accessibility. The partnership supports Code.org's mission of providing free online coding courses and teacher training. The initiative has shown particular success in Native American communities, exemplified by Lance West's elementary school in Walker River Reservation, Nevada. Code.org developed a culturally relevant 'Star Quilt' module to engage Native American students, who historically face educational challenges. The organization is also working to integrate AI education in classrooms through TeachAI.org, addressing the growing importance of computer science in today's digital landscape.