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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 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.
Cisco Webex (NASDAQ: CSCO) and Box (NYSE: BOX) have announced enhanced integrations aimed at improving secure cloud collaboration. Users will now be able to link Box folders directly within Webex messaging, allowing shared content to be securely stored in those folders. Furthermore, Webex has become a Recommended App within Box, enabling users to initiate meetings and share materials seamlessly. The updates build on their existing partnership to support hybrid work environments, enhancing user experience and ensuring content security.
Cisco announced its participation in the J.P. Morgan 49th Annual Global Technology, Media & Communication Conference on May 24, 2021. The presentation will be webcasted, allowing investors and interested parties to access it through Cisco's Investor Relations site. Jonathan Davidson, Sr. VP and General Manager of Cisco Mass-Scale Infrastructure, will represent the company. Cisco continues to position itself as a leader in technology that drives the Internet, focusing on innovation and infrastructure transformation.
Randstad US has launched new partnerships via its TRANSCEND program with Cisco, TechBridge, and Urban Strategies, Inc. to enhance job opportunities for disadvantaged communities. The initiative aims to fill the skills gap projected to cost the U.S. economy $1.2 trillion over the next decade. Participants will receive training in fields like account management, financial services, and technology. Randstad aims to reskill 40,000 workers by year-end 2021, with the first cohort commencing training in March.
Cisco has expanded its AppDynamics Software-as-a-Service (SaaS) platform by launching five new locations: Cape Town, Hong Kong, London, São Paulo, and Singapore, enhancing its global reach built on Amazon Web Services. This expansion aims to address regional data residency regulations and provide secure access to full-stack observability solutions. With existing locations in Portland, Frankfurt, Mumbai, and Sydney, AppDynamics strengthens its position as a leading SaaS provider, enabling enterprises to meet growing user demands while ensuring data privacy and security compliance.
The Cisco Foundation has pledged $100 million over ten years to combat climate change. This funding will support nonprofit grants and impact investments focusing on technology-based climate solutions, community education, and green jobs. Cisco aims to enhance net zero and circular economies while reducing greenhouse gas emissions and fostering community engagement. The initiative aligns with Cisco's commitment to sustainability, aiming for 100% renewable energy and significant reductions in Scope 1 and 2 emissions by 2022.
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