Cisco Systems, Inc. - CSCO STOCK NEWS

Accedian and Cisco announced their partnership with Zain Kuwait to enhance network automation, visibility, and service assurance for B2B customers. This initiative integrates Accedian Skylight into Cisco's Crosswork Network Automation platform, enabling Zain Kuwait to monitor its network performance at a granular level. Key benefits include unparalleled network visibility, service assurance as a service, and improved automation of network tasks. The collaboration aims to strengthen Zain's market leadership by enhancing customer experience and addressing quality of service proactively.

BorgWarner appointed Sailaja Shankar to its Board of Directors on September 22, 2022. Shankar brings extensive experience in strategic change and digital security from her roles at Cisco and McAfee. As the Senior Vice President at Cisco, she oversees the global security business, emphasizing innovative strategy and architecture. Her leadership aims to align with BorgWarner's evolving product line and its vision of 'Charging Forward.' This addition to the board is expected to strengthen the company's position in eMobility while leveraging Shankar's expertise in software applications and cybersecurity.

ConvergeOne has reaffirmed its status as a Cisco Gold Partner, enhancing its commitment to customer satisfaction. This recognition is backed by their expertise in cloud modernization and their impressive 2021 Net Promoter Score of 80, nearly double the industry average. The company has also achieved Cisco Powered Service designations in SD-WAN and Unified Contact Center, indicating strong customer support capabilities. ConvergeOne has received multiple awards from Cisco, including the Global Award for Customer Experience Partner in 2021, underscoring its customer-centric approach and innovative solutions.

Cisco has appointed Sarah Rae Murphy to its board of directors effective August 24, 2022, increasing the board's size to 12 members. Murphy brings extensive experience in finance, operations, and transformation from her 16 years at United Airlines, where she held various leadership roles, including Chief Procurement Officer.

CEO Chuck Robbins expressed excitement about her appointment, believing her past experience will enhance Cisco's strategy in improving customer experience and leveraging technology for business growth.

On August 24, 2022, GLO Pharma announced the appointment of Brent Saunders to its Board of Directors, expanding the board to six members. Saunders, currently Executive Chairman of The Beauty Health Company, brings extensive leadership experience in biopharma and medical aesthetics, having previously held CEO roles at Allergan and Forest Laboratories. His expertise is expected to bolster GLO Pharma's strategy as it enhances its consumer brand, Ourself, which launched in February 2022 with $40M in funding. Chairman Scott Glenn emphasized Saunders' pivotal role in company innovation.

Cisco has declared a quarterly cash dividend of $0.38 per common share, set to be paid on October 26, 2022. Shareholders of record as of October 5, 2022 will receive this dividend. This follows a previous dividend of $0.38 paid on July 27, 2022. Future dividends will require Board approval.

Cisco concluded fiscal 2022 with Q4 revenue of $13.1 billion, flat year-over-year, and full-year revenue of $51.6 billion, up 3%. Q4 GAAP EPS was $0.68, down 4% year-over-year. However, non-GAAP EPS was $0.83, down 1%. Cisco recorded a strong demand with record product orders and backlog, leading to a total Annualized Recurring Revenue (ARR) of $22.9 billion, up 8% year-over-year. Guidance for Q1 FY 2023 indicates 2% to 4% revenue growth, while FY 2023 guidance projects 4% to 6% growth.

Cisco has been awarded the 2022 Global Secure Web Gateway Enabling Technology Leadership Award by Frost & Sullivan for its innovative Cisco Umbrella Secure Internet Gateway. This solution provides cloud-delivered security, integrating multiple security functions into a single platform. Cisco boasts a 10.4% market share in the secure web gateway market, showcasing significant growth and innovation in a competitive landscape. The award acknowledges Cisco's continuous improvements, essential for organizations adopting Secure Access Service Edge (SASE) security approaches.