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.
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.
Cisco will host a webcast with Loop Capital on August 24, 2022, featuring Bill Gartner, SVP and GM of Optical Systems and Optics Group. The discussion will focus on Cisco's optical strategy and market dynamics. The event will be available for replay one month post-event on Cisco's Investor Relations website. Notably, no new financial information will be disclosed during this call.
Cisco is set to announce its fourth quarter and fiscal year 2022 financial results on August 17, 2022, following the market close. The scheduled conference call will take place at 1:30 PM PT (4:30 PM ET). Investors and stakeholders can access the financial results through PR Newswire and on Cisco's newsroom. A telephone playback of the conference call will be available from 4:00 PM PT on August 17 until August 24. The event can also be listened to via the internet.
Cisco and Qwilt have partnered to launch a cutting-edge content delivery solution across Kinetic by Windstream's North American network. This deployment enhances streaming performance and significantly increases capacity for live and on-demand content, leveraging Cisco's edge compute infrastructure and Qwilt's Open Edge Cloud. The partnership aims to address the surging demand for streamed content while establishing a telco cloud foundation for future applications. This initiative supports Kinetic's goal of delivering high-speed, reliable media services to its customers.
Cisco has announced its participation in the Deutsche Bank 2022 Technology Conference on August 31, 2022, at 9:00 a.m. PT. The session will be webcast and can be accessed via Cisco's Investor Relations website. This event is part of Cisco's ongoing engagement with the financial community, aimed at showcasing its technological leadership and innovations. By continuing to share insights into its strategic direction, Cisco reinforces its commitment to transparency and investor relations.
Cisco has unveiled a new Wholesale Route-to-Market (RTM) for its Webex platform, aimed at empowering Service Providers to deliver managed services tailored to small and mid-size businesses (SMBs). This model includes a single contract for partners, enabling them to extend Webex's voice, video, and collaboration technology via co-branded offers. The program features consumption-based billing, dedicated support, and a variety of service packages designed to enhance customer experiences and fulfill the unique needs of SMBs.
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