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.
Cisco's latest cybersecurity report, Security Outcomes Study Volume 2, surveyed over 5,100 professionals across 27 markets to identify effective security measures. Key findings highlight that organizations regularly testing their security are 2.5 times more likely to maintain resiliency. Additionally, those using integrated technology experience a 40% improvement in threat detection. The report emphasizes the importance of investing in cloud-based architectures and automation to enhance security operations and recovery capabilities amid evolving threats.
Cisco (NASDAQ: CSCO) will hold its 2021 Virtual Annual Meeting of Stockholders on December 13, 2021, at 8:00 a.m. PST. Participants, including Chair and CEO Chuck Robbins, can join via audio webcast. Only stockholders of record as of October 15, 2021, are eligible to vote and ask questions online during the meeting.
Stockholders can access the meeting here. A replay will be available on the Cisco Investor Relations website.
Cisco has announced its participation in several key conferences in December 2021 aimed at engaging with the financial community. The events include the Raymond James Technology Investors Conference and the UBS Global TMT Virtual Conference on December 6, followed by the Barclays Global Technology, Media and Telecommunications Conference on December 8. Webcasts of these sessions will be available on Cisco's Investor Relations website.
Cisco, a global leader in technology, will participate in the Wells Fargo Virtual 5th Annual TMT Summit on November 30, 2021, at 9:40 a.m. PT. Senior Vice President Kip Compton will present during this financial community event, which will be available for webcast. Investors can access the session through Cisco's Investor Relations website. This engagement highlights Cisco's commitment to transparency and communication with its stakeholders.
Cisco reported Q1 FY 2022 results with revenue of $12.9 billion, marking an 8% increase year over year. GAAP EPS rose 37% to $0.70, while Non-GAAP EPS grew 8% to $0.82. Strong demand was noted with 33% growth in total product orders. The company achieved a total annualized recurring revenue of $21.6 billion, a 10% increase year over year. Cisco forecasts Q2 FY 2022 revenue growth between 4.5% and 6.5% and maintains FY 2022 guidance at 5% to 7%.
AT&T has expanded its global managed Secure Access Service Edge (SASE) portfolio, introducing a new offering, AT&T SASE with Cisco. This solution integrates SD-WAN technology and security features to enhance cloud-based application utilization. It aims to meet evolving business connectivity demands, amid increased remote work and complex security needs. Available immediately, this service offers optimized network performance and centralized management for organizations, particularly in sensitive sectors like healthcare, by ensuring secure data access.
Softchoice (TSX: SFTC) received two prestigious awards at the 2021 Cisco Partner Summit: Global Social Impact Partner of the Year and Americas Security Partner of the Year. These accolades highlight Softchoice's commitment to customer success and community impact through innovative technology solutions. Cisco's recognition emphasizes Softchoice's alignment with customer needs and its role in driving digital transformation. The awards reflect superior business practices and dedication to solving complex challenges for enterprises.
Cisco's Partner Summit 2021 revealed significant innovations aimed at addressing the complexities of hybrid work environments. Key announcements included the launch of ThousandEyes Application Outages for proactive SaaS outage management and the introduction of a public Internet Outages Map. These tools aim to enhance visibility into application performance across diverse cloud environments. Cisco emphasized a partner-first approach, focusing on simplifying technology management for businesses adapting to hybrid work models, thus reinforcing its leadership in networking and security.
At Cisco's Partner Summit 2021, the company announced a new Enterprise Agreement (EA) to streamline software purchasing for partners and customers. This initiative is aimed at enhancing digital transformation and boosting software revenue. The EA simplifies access across five portfolios, reduces minimum spend requirements, and allows organizations to manage licenses more efficiently. Additionally, Cisco Capital financing options are introduced to mitigate credit risks. The EA is set to be available through selected partners with broader access planned for early 2022.
Cisco has announced a conference call scheduled for November 17, 2021, at 1:30 PM PT to discuss its Q1 FY2022 financial results for the period ending October 30, 2021. The financial results will be released via PR Newswire, and a live audio broadcast will be available online. Investors can access the replay starting 4:00 PM PT on the same day through November 24, 2021. Cisco continues to be a leader in technology, aiming to empower teams and secure data for a global future.
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