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 Q2 FY 2021 results with revenue remaining flat at $12.0 billion, year-over-year. GAAP earnings per share (EPS) decreased by 12% to $0.60, while non-GAAP EPS rose 3% to $0.79. The company saw a 1% increase in total product orders and a 3% dividend increase. Q3 guidance anticipates 3.5% to 5.5% revenue growth y/y and GAAP EPS of $0.64 to $0.69. Despite challenges, Cisco's transformation towards software and subscription services continues, with 76% of software revenue now derived from subscriptions.
Cisco has launched Secure Application, an innovative solution designed to simplify vulnerability management and enhance application security. Co-developed with the Cisco Security team, this tool integrates security and application insights, promising reduced alert fatigue and automatic breach prevention. With applications migrating to cloud-native environments, organizations can now manage vulnerabilities more effectively during production. This offering supports enterprise IT teams in securing applications without compromising performance, ultimately safeguarding customer trust and brand reputation.
Cisco announced its participation in the Goldman Sachs Technology and Internet Conference 2021, scheduled for February 10, 2021, at 5:00 a.m. PT / 8:00 a.m. ET. The session will be webcast live, and interested parties can access it via Cisco's Investor Relations website. CEO Chuck Robbins will represent the company during the event, which aims to engage with the financial community and discuss key business developments.
Cisco has announced a conference call scheduled for February 9, 2021, at 1:30 PM PT to discuss its second quarter fiscal year 2021 financial results. The results for the period ending January 23, 2021 will be released via PR Newswire after market close on the same day. The earnings press release will be available on Cisco's website. Investors can listen to the call through telephone or internet, with a replay available from February 9 to February 16.
Cisco's 2021 Data Privacy Benchmark Study reveals significant privacy concerns arising from the pandemic, reflecting a global shift towards remote work. Key findings include that 60% of organizations felt unprepared for privacy requirements, while 93% sought guidance from their privacy teams. Many businesses now view privacy as a fundamental human right, with over 140 jurisdictions passing privacy laws. Additionally, 75% of organizations recognize substantial business value in privacy investments, contributing to enhanced security and consumer trust.
Cisco has announced an amended merger agreement to acquire Acacia Communications for $115 per share, totaling approximately $4.5 billion in cash. This acquisition aims to strengthen Cisco's 'Internet for the Future' strategy by enhancing its coherent optical solutions. The deal is expected to close by the end of Q1 2021, pending stockholder approval. Cisco is committed to supporting Acacia's existing and new customers, integrating its teams to offer advanced optical technology solutions.
Cisco (NASDAQ: CSCO) is seeking confirmation from the Delaware Court of Chancery regarding the closing conditions for its acquisition of Acacia Communications (NASDAQ: ACIA). This includes confirmation that all necessary conditions, including approval from China's State Administration for Market Regulation (SAMR), have been met. As of January 7, 2021, Cisco received notification from SAMR that its submission addresses relevant competition concerns. Cisco also seeks a court order to require Acacia to proceed with the transaction.
Cisco has appointed John D. Harris II to its board of directors as of January 7, 2021. Harris brings over 30 years of experience in technology and has previously held significant roles at Raytheon, where he led global business operations. Cisco's CEO, Chuck Robbins, noted that Harris's leadership will enhance Cisco's strategy and strengthen customer relationships as they advance digital agility. Harris's extensive background in managing large-scale global businesses is expected to positively impact Cisco's future direction.
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.
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