Cisco Systems, Inc. - CSCO STOCK NEWS

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.

Cisco reported Q1 FY 2021 revenue of $11.9 billion, down 9% year-over-year, with GAAP EPS of $0.51 (down 25%) and non-GAAP EPS of $0.76 (down 10%). Despite revenue declines, the company highlighted a 10% growth in remaining performance obligations, signaling a positive outlook. Cisco returned $2.3 billion to shareholders through buybacks and dividends. For Q2 FY 2021, Cisco anticipates a revenue decline of 0% to 2% and GAAP EPS guidance of $0.55 to $0.60.

Cisco's Duo Security released the 2020 Duo Trusted Access Report, revealing significant shifts in IT due to remote work. Key findings include a 90% surge in blocked access attempts from outdated devices and a 40% increase in daily authentications for cloud applications. The report emphasizes the need for stronger security measures as 96% of organizations adapted cybersecurity policies during the pandemic. Additionally, cloud adoption is set to outpace on-premises applications by 2021, highlighting the necessity for enhanced remote access solutions.