Welcome to our dedicated page for Cisco Systems news (Ticker: CSCO), a resource for investors and traders seeking the latest updates and insights on Cisco Systems stock.
Cisco Systems, Inc., commonly known as Cisco (NASDAQ: CSCO), is a leading American multinational digital communications technology conglomerate headquartered in San Jose, California. Cisco is the world's largest provider of networking equipment and one of the top software companies globally.
The company's core business revolves around selling networking hardware and software, including leading market shares in these sectors. Cisco is also a prominent player in cybersecurity with products like firewalls, and offers collaboration tools such as the Webex suite. Additionally, Cisco provides observability tools to enhance network visibility and performance.
Recent achievements underscore Cisco's commitment to innovation and sustainability. For instance, the Cisco Foundation is actively working on environmental protection projects in the Amazon Basin, highlighting the company's dedication to Corporate Social Responsibility (CSR). Cisco is also at the forefront of AI and data security, unveiling groundbreaking solutions like Cisco Hypershield to protect modern workloads across various platforms.
Cisco is investing heavily in emerging technologies. The company recently launched a $1B AI investment fund to support the startup ecosystem and advance AI solutions, reflecting Cisco's strategic focus on innovation and customer needs in the AI era.
Financially, Cisco continues to perform robustly with substantial investments in R&D, strategic acquisitions, and partnerships. In Q3 FY 2024, Cisco reported revenue of $12.7 billion, demonstrating resilience and adaptability in a dynamic market environment. The acquisition of Splunk, a leading data platform, further strengthens Cisco’s product portfolio and market position.
With a workforce of 80,000 employees across 90 countries, Cisco's global reach is vast. The company outsources its manufacturing but maintains a substantial sales and marketing team to drive global sales. Key partnerships with tech giants like NVIDIA further bolster Cisco's capabilities in AI and cybersecurity.
Overall, Cisco Systems, Inc. is a powerhouse in digital communications, continuously innovating to meet the evolving needs of its customers while maintaining a strong commitment to sustainability and corporate responsibility.
The Indy Autonomous Challenge (IAC) introduced the Cisco STEM Zone, aiming to engage North Texas STEM students at the Texas Motor Speedway on
Experis, part of ManpowerGroup (NYSE: MAN), has partnered with Cisco (NASDAQ: CSCO) to provide IT training globally for various learners, aiming to support those transitioning into IT roles. Amid a talent shortage where over 75% of IT employers struggle to fill positions, this initiative seeks to train and place over 1,000 individuals in IT jobs within the first year. Courses will cover essential areas like Cybersecurity and Programming. The collaboration features the Experis MITEY Matcher, an AI job platform to help users connect their new skills with employment opportunities.
Red Cell Partners has appointed Wesley G. Bush as Director and Advisor, enhancing its leadership team. Bush, who previously served as Chairman and CEO of Northrop Grumman, brings extensive experience in finance, public policy, and cybersecurity. His role is expected to strengthen Red Cell's connection to the defense and healthcare sectors, aimed at developing innovative solutions to pressing national issues. Red Cell focuses on rapidly scalable technology-led companies to address significant challenges, leveraging Bush's expertise to advance their mission.
Vodafone Turkey has announced a partnership with Cisco and Qwilt to enhance its live streaming and media services for approximately 25 million subscribers across Turkey. This collaboration aims to improve content delivery and streaming quality by utilizing Qwilt’s Open Edge Cloud solution, allowing for better service scalability and cost efficiency. The partnership is compliant with the Streaming Video Technology Alliance's Open Caching guidelines, positioning Vodafone Turkey to meet growing demand for digital media while enhancing user experience.
Microsoft and Cisco announced a partnership to enable the running of Microsoft Teams natively on Cisco’s Room and Desk devices, enhancing customer choice in hybrid work environments. This integration, set for early 2023, will allow customers to set Teams as the default experience while maintaining support for Webex meetings. Initial offerings include six Cisco devices certified for Microsoft Teams, along with high-quality video technology from Cisco. This collaboration aims to improve the digital workplace by providing reliable, intelligent meeting solutions.
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.
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