Cisco Systems, Inc. - CSCO STOCK NEWS

On August 19, 2020, Cisco announced a multi-year partnership with Riot Games, becoming the Official Enterprise Networking Partner for League of Legends Esports. This collaboration aims to enhance network performance by 200% during the 2020 World Championships and facilitate the construction of Remote Broadcast Centers (RBCs) globally. Cisco's technology will support competitive integrity and improve gameplay performance, enabling pro players to achieve sub-1ms ping. The initiative is expected to boost the esports broadcasting experience for fans worldwide.

Cisco reported Q4 FY 2020 results with revenue of $12.2 billion, a 9% decline year over year. Net income on a GAAP basis was $2.6 billion with GAAP EPS at $0.62, a 22% increase from the previous year. However, non-GAAP EPS decreased 4% to $0.80. For the fiscal year, total revenue was $49.3 billion, a 5% decrease, with GAAP EPS growing 1% year over year. Looking ahead, guidance for Q1 FY 2021 indicates a revenue decline of 9% to 11% year over year, with EPS expected between $0.41 to $0.47.

Cisco (NASDAQ: CSCO) has completed the acquisition of ThousandEyes, enhancing its internet and cloud intelligence capabilities. This strategic move allows Cisco to provide customers with comprehensive visibility into network and application performance over the internet and cloud. ThousandEyes' platform enables organizations to identify and address deficiencies in their digital application delivery. Cisco plans to integrate these capabilities across its Enterprise Networking, Cloud, and AppDynamics portfolios to improve overall service delivery.

Cisco has announced a conference call on August 12, 2020, at 1:30 PM (PT) to discuss its Q4 and FY2020 financial results, ending July 25, 2020. The financial results will be released after the market closes. Investors can access the call via telephone or online at Cisco's Investor Relations website. A telephone playback will be available from 4:00 PM (PT) on August 12 through August 19. Cisco continues to lead in technology for a global and inclusive future.

Cisco Systems (NASDAQ: CSCO) and Acacia Communications (NASDAQ: ACIA) announced ongoing communication with China's State Administration for Market Regulation (SAMR) regarding the regulatory review of their pending acquisition. Cisco remains optimistic about receiving clearance, which is the final regulatory hurdle, having already secured approvals in the U.S., Germany, and Austria. The closing of the acquisition is anticipated shortly after regulatory conditions are met, with both companies expressing excitement about the growth opportunities this merger will bring.

Cisco has released a new report titled "A New Perspective on the Modern Workplace," which shares key insights for IT leaders adapting to the evolving work environment post-pandemic. Conducted by Freeform Dynamics, the survey reveals that 74% of businesses believe they will emerge stronger from the crisis. The report highlights six critical lessons learned, emphasizing the importance of flexibility, employee well-being, and inclusivity in the workplace. Almost half of respondents expect flexible working hours to persist, and 87% of managers have prioritized employee well-being, indicating a significant cultural shift.

Cisco has been recognized by Frost & Sullivan with the 2020 Global Market Leadership Award for its significant dominance in the Network Access Control (NAC) market, holding a 33.4% market share as of 2019. The company's NAC revenue growth surpassed the overall market, indicating strong performance. Cisco's ongoing commitment to integrating customer needs with a flexible NAC architecture and strategic acquisitions, including Duo Security, has bolstered its leadership. The company aims to enhance its zero-trust security model and is expanding its offerings across various industries, including IoT and healthcare.

Cisco (NASDAQ: CSCO) has launched new intent-based networking solutions at Cisco Live 2020 to enhance business operations and network performance. Key offerings include enhanced segmentation and security features within Cisco SD-WAN, which integrates with Cisco Umbrella for cloud-native security. Also introduced are the AI Endpoint Analytics and User-Defined Networks that improve management of IoT devices. These innovations aim to support organizations in adapting to a remote workforce and cloud transition while ensuring user experience and operational efficiency. The new features will be available in the summer of 2020.

On June 16, 2020, Cisco announced significant enhancements to its Webex platform in response to unprecedented demand, with usage tripling. Key updates include increased global capacity, enhanced security measures, and new integrations with Box and Epic for telehealth. Webex is now supporting over half a billion meeting participants, emphasizing its role in business continuity during the pandemic. The updates aim to empower IT teams in managing remote workforces and provide secure, efficient collaboration tools for users worldwide.