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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.
Cisco reported Q3 FY 2022 results with $12.8 billion in revenue, flat year-over-year. GAAP EPS increased by 7% to $0.73, while Non-GAAP EPS rose 5% to $0.87. Product orders grew 8% year-over-year, indicating strong demand, with Annualized Recurring Revenue (ARR) at $22.4 billion, up 11%. However, Q4 guidance anticipates a revenue decline of (1)% to (5.5)% year-over-year and GAAP EPS between $0.60 to $0.70. The ongoing impacts of Covid and geopolitical tensions were noted as challenges.
Cisco has announced a conference call on May 18, 2022, at 1:30 PM PT to discuss its Q3 FY2022 financial results for the period ending April 30, 2022. The financial results will be released after market close via PR Newswire. Investors can listen to the call by phone or online at investor.cisco.com. A replay will be available from 4:00 PM PT on the same day until May 25, 2022.
Cisco has unveiled predictive networking technology, enabling IT teams to foresee application issues effectively. After two years of development and customer trials, this technology enhances network reliability and user experience. Cisco plans to integrate these predictive capabilities into its SaaS offerings, making them accessible to businesses of all sizes. As organizations face increasing network demands, this innovation aims to prevent costly disruptions and ensure optimal performance, critical for maintaining customer satisfaction and productivity in the digital era.
Cisco will participate in the J.P. Morgan 50th Annual Global Technology, Media & Communication Conference on May 23, 2022, at 12:10 p.m. PT. The session will be webcasted, with access available on Cisco's Investor Relations website. This event underscores Cisco's ongoing engagement with the financial community and aims to provide insights into its business strategy and market position. Interested parties can find more information on Cisco's Investor Relations page.
Relay Robotics, Inc. announces a successful $10 million Series A financing and has acquired Savioke, enhancing its robotic service offerings. Michael O'Donnell has been appointed as Chairman & CEO, with Savioke's co-founder, Steve Cousins, becoming CTO. The Relay robots, deployed at major hotels and healthcare facilities, aim to leverage the growing hospitality market projected to reach $6.7 trillion by 2026. Relay Robotics focuses on integrating AI to address labor shortages in service industries while enhancing operational efficiencies.
Comcast Business has expanded its partnership with Cisco to include Cisco SD-WAN powered by Viptela, enhancing its managed SD-WAN solutions portfolio. This collaboration aims to provide enterprise customers with comprehensive global secure networking options, addressing evolving cybersecurity needs driven by new work models post-pandemic. The service facilitates simplified network management and supports hybrid work environments, integrating advanced security features like SASE and zero trust. This expansion positions Comcast Business to better serve enterprises' unique infrastructural requirements.
Duke University, DISH Wireless, and Cisco have announced a collaboration to launch a neutral host network pilot aimed at higher education institutions, utilizing Citizens Broadband Radio Service (CBRS) shared spectrum.
This initiative allows schools to establish private LTE and 5G networks, enhancing connectivity for mobile and fixed wireless access. The pilot, slated for summer 2022, aims to provide a reliable wireless infrastructure across campus. The collaboration is part of Internet2's efforts to improve wireless technologies in higher education, focusing on transformative connectivity solutions.
Cisco has announced new innovations in Webex aimed at enhancing the hybrid work experience, including a partnership with Ford to create a mobile office. Webex Calling has reached 6 million users, highlighting the growing adoption of cloud calling solutions. Enhancements also include extending the Embedded App Framework to various devices, enabling seamless app integration, and reimagining workspaces with features that support flexible work styles. Additionally, Webex Events is partnering with CLEAR (NYSE: YOU) to streamline health protocols for hybrid events.
NetApp and Cisco unveiled FlexPod XCS, a platform enhancing hybrid cloud connectivity and automation for modern applications. FlexPod XCS integrates with leading cloud providers, offering operational flexibility through a pay-as-you-grow model. Key features include enhanced visibility via Cisco Intersight, comprehensive automation, and tailored cost structures. This innovation aims to streamline IT operations and modernize cloud services, reinforcing NetApp's and Cisco's commitment to delivering robust data management solutions.
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