Cisco Systems, Inc. - CSCO STOCK NEWS

Cisco (CSCO) has launched an all-new Webex Suite aimed at enhancing hybrid work collaboration. The suite integrates over 800 features and devices introduced since September 2020, offering a comprehensive solution that combines meetings, calling, messaging, polling, and events at 40% lower cost than a-la-carte options. The integration of Slido and upcoming Socio tools aims to enhance audience engagement for hybrid events. CEO Chuck Robbins emphasized the importance of this offering as organizations adapt to ongoing changes in work culture.

Cisco and AT&T have partnered to enhance cloud communications for enterprise clients, particularly in adapting to a hybrid workforce. Over the next five years, they aim to provide up to 1 million users access to the UCMC platform via Webex Calling. This collaboration promises 99.99% uptime, facilitating rapid feature updates. Cisco’s solutions aim to streamline operations for businesses navigating the transition to hybrid work, leveraging AT&T’s robust network capabilities. Both companies emphasize the importance of integrating cloud, collaboration, and security technologies to meet evolving business needs.

Cisco (NASDAQ: CSCO) announced a quarterly cash dividend of $0.37 per common share, scheduled for payment on July 28, 2021. Shareholders of record as of the close of business on July 6, 2021 will receive this dividend. This amount is consistent with its previous dividend paid on April 28, 2021. Future dividends will be subject to board approval. Cisco remains a leader in technology that powers the internet, continuously working to enhance infrastructure and empower teams globally.

Cisco has announced its participation in several conferences with the financial community in June 2021, which will be webcast. Key events include the Cowen and Company 49th Annual Technology, Media, & Telecom Conference on June 3 at 9:30 a.m. PT and the Morgan Stanley Sustainable Futures Conference on June 9 at 8:00 a.m. PT. Interested parties can access these sessions via Cisco's Investor Relations website for further details.

Cisco reported Q3 FY 2021 results with $12.8 billion in revenue, a 7% year-over-year increase. GAAP EPS reached $0.68, while Non-GAAP EPS was $0.83, both up 5% year-over-year. The results reflected strong demand, with total product orders growing 10%, the highest in nearly a decade. Software revenue from subscriptions rose to 81%, enhancing recurring revenue streams. For Q4 FY 2021, Cisco projects revenue growth of 6% to 8% and GAAP EPS guidance of $0.64 to $0.69.

Cisco announced key innovations at RSA Conference 2021 to simplify security across its platforms, enhancing Extended Detection and Response (XDR) and delivering on its Secure Access Service Edge (SASE) vision. Key developments include improved threat detection in cloud environments, the industry’s first integrated firewall, and an intent to acquire Kenna Security for better vulnerability management. With over 7,000 customers using its SecureX platform, Cisco aims to streamline security for organizations navigating a distributed workforce.

Cisco has announced its intent to acquire Kenna Security, a leader in risk-based vulnerability management, to enhance its security solutions and support customers in improving their security posture. The acquisition, expected to close in Cisco's fourth quarter of fiscal 2021, aims to integrate Kenna's advanced technology with Cisco's SecureX platform, enabling better threat detection and response. This strategic move addresses the growing complexity of cybersecurity, streamlining collaboration between security and IT teams while prioritizing vulnerabilities based on real-time intelligence.

Cisco (NASDAQ: CSCO) announced its intent to acquire Socio Labs, enhancing its Webex platform to better serve the growing demand for hybrid events. Socio Labs' technology will support live streaming, networking, and advanced analytics, providing a comprehensive solution for event organizers. This acquisition, expected to close in Q4 fiscal 2021, follows Cisco's purchase of Slido, further solidifying its position in the event management industry. Cisco's collaboration tools are already trusted by 95% of Fortune 500 companies, emphasizing the strategic importance of this move.

Cisco has announced a conference call for May 19, 2021, at 1:30 PM PT to discuss its Q3 fiscal year 2021 financial results for the period ending May 1, 2021. The financial results will be released after market close on the same day via PR Newswire. Investors can access the live audio broadcast and related materials online at Cisco's Investor Relations website. A replay of the call will be available from May 19 to May 26, 2021.