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 (NASDAQ: CSCO) has declared a quarterly cash dividend of $0.36 per common share, payable on January 20, 2021, to shareholders of record as of January 5, 2021. This announcement mirrors the previous quarterly dividend amount, which was also $0.36 and paid on October 21, 2020. Future dividends are subject to Board approval, maintaining a consistent return for its investors.
On December 8, 2020, Cisco unveiled significant updates to Webex, enhancing collaboration with over 50 new features. Key innovations include real-time transcription, enhanced video layouts, and AI-powered insights tailored for teams and individuals. The announcement coincides with Cisco's intent to acquire IMImobile and Slido, aiming to embed omnichannel engagement into customer experiences. Cisco emphasizes a vision for a hybrid work environment, asserting that the new features will help organizations achieve a seamless blend of remote and onsite interactions.
Cisco announced at WebexOne on December 8, 2020, the launch of three new collaboration devices: Webex Desk Camera, Webex Desk Hub, and Webex Desk. These devices aim to support hybrid work environments by enhancing productivity for remote and office workers. The Webex Desk Camera features AI capabilities and a gesture-based microphone control, while the Webex Desk Hub facilitates personalized hotdesking. The Webex Desk provides immersive presentation features and is designed for easy setup and use.
Cisco has launched the Webex App Hub, a collaboration app ecosystem offering prebuilt integrations that enhance user experience and IT workflow. Key integrations announced include Box, Dropbox, Miro, MURAL, Salesforce, ServiceNow, and Workplace from Facebook. The App Hub allows users to transition seamlessly between applications while enabling IT managers to streamline app usage across the company. These integrations aim to facilitate secure and effective remote collaboration, positioning Webex as a versatile, user-friendly platform for businesses.
Cisco has announced its agreement to acquire IMImobile PLC for approximately USD 730 million or 595 pence per share. This acquisition aims to integrate IMImobile's cloud communications software into Cisco's offerings, enhancing its Customer Experience as a Service (CXaaS) capabilities. The partnership will enable end-to-end customer interaction management, using AI to personalize and streamline customer interactions across various channels. This acquisition is subject to shareholder and regulatory approvals and is expected to close in Q1 2021.
Cisco's 2021 Security Outcomes Study reveals key insights for enhancing cybersecurity. Conducted among 4,800 professionals worldwide, findings emphasize the significance of proactively refreshing technology, with organizations adopting this strategy reporting 12.7% better security success. Additionally, well-integrated tech stacks boost success by 10.5% and improve talent retention. The study suggests moving towards cloud and SaaS solutions for cost-effective, modern security, indicating that traditional training methods are less effective than comprehensive threat management.
Cisco recently announced its participation in key conferences in December 2020, including the Raymond James Technology Investors Conference on December 7 and the Barclays Global Technology, Media and Telecommunications Conference on December 9. These events aim to engage with the financial community and will be webcasted for interested investors. Cisco, a leader in Internet technology, focuses on securing data and transforming infrastructure to foster a global future. The sessions will be accessible via the company’s Investor Relations website.
Cisco (NASDAQ: CSCO) will conduct its 2020 Virtual Annual Meeting of Shareholders on December 10, 2020, at 8:00 a.m. PST. Attendees will include Chairman and CEO Chuck Robbins. Shareholders of record as of October 12, 2020 can participate by voting and asking questions online. A live audio webcast with synchronized slides will be available. For further details, visit the meeting link. The annual report and proxy can also be downloaded online.
AppDynamics, part of Cisco, has been added to Microsoft’s Cloud Adoption Framework (CAF) to assist enterprises in their cloud migration journeys. This partnership enables businesses to adopt cloud services with greater confidence, leveraging AppDynamics’ monitoring solutions for insights during application migration to Azure. Key benefits include migrating applications over 30% faster and effectively monitoring Azure-based applications. The collaboration aims to enhance digital transformation, especially amid increased demands due to the pandemic.
Cisco (NASDAQ: CSCO) has appointed R. Scott Herren as the new executive vice president and chief financial officer, effective December 18, 2020. Herren succeeds Kelly Kramer, who is retiring after nine years. His appointment is part of Cisco's strategy to enhance shareholder value and transition towards a software and subscription-based business model. Herren's expertise in SaaS and global business operations is expected to aid Cisco in this transformation. He previously served as CFO at Autodesk, overseeing a successful business model shift.
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