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 reported hosting a record 8 billion calls monthly via Webex, the highest among cloud calling providers. The company expanded its Cisco Calling Plans to the UK, bringing its coverage to over 65 countries. More than 39 million cloud calling users utilize Cisco's services, making it a leader in the industry. The latest innovations enhance customer experience with customizable PSTN solutions and improved integration, enabling faster provisioning. Major enterprises, including T-Mobile and Cigna Health, rely on Cisco for their communication needs.
Cisco will hold its Investor Day 2021 on September 15, 2021, starting at 8:00 a.m. PT and concluding around 12:30 p.m. PT. The virtual event will feature presentations from Cisco's executive leadership focusing on the company’s strategy, business transformation, and market opportunities. Participants can register and find more information on Cisco's Investor Relations website. An archived version of the event will be available within 24 hours post-event.
Cisco reported strong Q4 FY 2021 results with a revenue of $13.1 billion, up 8% year-over-year. Full-year revenue reached $49.8 billion, marking a 1% increase. Q4 GAAP EPS was $0.71, a 15% rise, while non-GAAP EPS stood at $0.84, up 5%. The company also saw 31% growth in product orders, the highest in over a decade. Guidance for Q1 FY 2022 indicates revenue growth of 7.5% to 9.5% and GAAP EPS of $0.61 to $0.66.
Cisco has announced a conference call scheduled for August 18, 2021, at 1:30 PM PT to discuss its Q4 and fiscal year 2021 financial results, ending July 31, 2021. The call will cover key financial metrics and performance indicators, with results released via PR Newswire after market close. Investors can listen via telephone or the Cisco Investor Relations website. A replay will be available from August 18 to August 25, 2021.
Cisco (NASDAQ: CSCO) has launched Vidcast, an asynchronous video messaging platform designed to enhance productivity in hybrid work environments. This innovative tool allows users to create and share short video messages, mitigating the challenges posed by time zone differences. Vidcast is the first offering from Cisco's new accelerator program, Webex Leap, aiming to rapidly develop innovative solutions for remote collaboration. The platform includes features like video recording, real-time feedback, and advanced navigation tools. A waitlist for beta testing is currently open.
Cisco and AppDynamics have released findings from the App Attention Index revealing a dramatic increase in consumer reliance on digital services since the COVID-19 pandemic. Over 13,000 consumers globally reported a 30% increase in app usage. Expectations for digital performance have escalated, with 76% of users expecting better service. If these expectations are unmet, 60% place the blame on the brand. The report indicates a shift in consumer loyalty towards brands that invested in digital experiences during the pandemic, underscoring the necessity for flawless application performance.
Cisco (NASDAQ: CSCO) has completed the acquisition of Socio Labs, Inc., enhancing its Webex portfolio with a modern event technology platform for hybrid events. This acquisition aims to provide event organizers a comprehensive tool for managing virtual, in-person, and hybrid conferences, offering features like customizable registration, actionable attendee data, and dynamic engagement strategies. Cisco's executive team emphasizes that this move aligns with their commitment to creating inclusive experiences for all attendees and reflects their strategy to adapt to evolving customer needs.
Cisco has finalized its acquisition of Kenna Security, a leader in risk-based vulnerability management. This strategic move aims to enhance Cisco's security offerings by integrating Kenna's platform with Cisco's SecureX, enabling quicker identification of cybersecurity threats. The combination is expected to streamline collaboration among security teams, automate threat detection, and reduce compliance friction. Executives from both companies emphasize the acquisition's potential to transform cybersecurity management.
Cisco will host a webcast with Oppenheimer on June 24, 2021, at 8:00 AM PT to discuss its collaboration business and competitive advantages. The call features Jeetu Patel, Senior VP and General Manager of Security and Collaboration, with Ittai Kidron as moderator. No new financial information will be disclosed during the event. Interested parties can access the webcast and subsequent replay on Cisco's Investor Relations website.
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