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.
High Alpha, a leading venture studio, has launched its third venture studio, following the successful raising of a $110M fund. The new studio, focusing on enterprise cloud companies, raised $18M from Emergence Capital and Foundry Group. Since its inception in 2015, High Alpha has pioneered the venture studio model, raising over $260M and launching over 30 companies including Mandolin and Zylo. The firm aims to empower entrepreneurs through a unique model, providing essential coaching and resources to help startups thrive.
Cisco (NASDAQ: CSCO) is set to host WebexOne from October 26-28, 2021, a leading collaboration event aimed at enhancing hybrid work and customer experiences. Esteemed speakers include Olympian Simon Biles, Spanx CEO Sarah Blakely, and astronaut Nicole Stott. The event will feature over 30 customer speakers, interactive breakout sessions, and keynote discussions led by Cisco executives, focusing on technological innovations and organizational growth. The free virtual event emphasizes inclusivity and collaboration, inviting global participation.
Cisco has introduced its New Trust Standard, aiming to set a benchmark for organizations to enhance customer trust during digital transformation. This framework emphasizes essential elements such as Zero-Trust architecture, trusted supply chain, and data rights, amidst increasing cyber threats and hybrid work environments. Insights from the 2021 Consumer Privacy Survey revealed that nearly a third of consumers prioritize transparency and control over data practices, indicating a growing demand for trust in digital interactions.
Cisco has been awarded the 2021 Global Market Leadership Award by Frost & Sullivan for its leadership in the global network firewall market. The recognition highlights Cisco's strategic vision to enhance multicloud security, providing enterprises with integrated security solutions to simplify policy management. Cisco's Secure Firewall, which includes evolving capabilities and integrates with the SecureX platform, aims to reduce costs and improve threat response times. With a focus on Zero Trust and Secure Access Service Edge (SASE), Cisco is well-positioned to leverage the growing need for robust security in hybrid environments.
The Cisco Board of Directors has declared a quarterly cash dividend of $0.37 per common share, scheduled for payment on October 27, 2021. This dividend will be distributed to stockholders of record as of October 5, 2021. The declared amount remains unchanged from the previous dividend, which was also $0.37 and paid on July 28, 2021. Future dividends will require Board approval.
Cisco has announced its commitment to achieving net zero greenhouse gas emissions by 2040, encompassing all scopes of emissions including product use, operations, and supply chain. The company aims to meet Scope 1 and Scope 2 emissions targets by 2025, with future targets for Scope 3 emissions to follow. This initiative is pivotal for Cisco's strategy to promote sustainability and reduce environmental impact.
The firm will report on its progress through its Corporate Social Responsibility Impact Report.
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.
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