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Cisco Systems, Inc. (CSCO) delivers essential networking infrastructure and cybersecurity solutions powering global digital transformation. This dedicated news hub provides investors and technology leaders with verified updates directly from Cisco and trusted financial sources.
Access real-time announcements including earnings reports, product innovations, and strategic partnerships. Stay informed about developments in enterprise networking, cloud security advancements, and AI-driven collaboration tools that define Cisco's market leadership.
Our curated collection features press releases, executive statements, and industry analysis covering critical areas: next-generation firewalls, Webex platform enhancements, sustainability initiatives, and supply chain innovations. Bookmark this page for reliable updates on Cisco's role in securing hybrid work environments and enabling 5G infrastructure worldwide.
Cisco partners with various non-profits to transform underserved communities through entrepreneurial support. Highlighted collaborations include Agora Partnerships, The Bridge International, CARE Peru, Centro Community Partners, Defy Ventures, and Hand in Hand International.
Agora Partnerships focuses on SMEs in Latin America, especially women-led businesses, integrating eco-innovations and reporting 81% of participants seeing growth.
The Bridge International aids social innovators in Asia, with a 26% increase in funds raised through a revamped crowdfunding platform.
CARE Peru emphasizes female entrepreneurship through educational initiatives, impacting over 7 million people in 50 years.
Centro Community Partners assists low-income women and entrepreneurs of color, facilitating access to $4.7M in capital.
Defy Ventures supports formerly incarcerated individuals with business training and career readiness, achieving a recidivism rate of less than 10% for program graduates.
Hand in Hand International empowers women in poverty-stricken regions, reporting women entrepreneurs double their incomes.
Cisco has announced its participation in several financial community events for August and September 2024. These include conferences hosted by Jefferies, Evercore ISI, Deutsche Bank, Citi, RBC, Goldman Sachs, and JP Morgan across various locations including Chicago, Dana Point, New York, San Francisco, and London.
Key participants from Cisco include Rakesh Chopra (SVP & Fellow, Common Hardware Group), Sami Badri (VP, Head of Investor Relations), Gary Steele (President, Go-to-Market), Scott Herren (EVP and CFO), and Gordon Thomson (VP, Service Provider, EMEA).
Webcasts will be available for select events, including the Citi Global TMT Conference, RBC Virtual Investor Meeting, and Goldman Sachs Communacopia + Technology Conference. No new financial information will be discussed at these events.
Cisco Networking Academy honors the International Day of the World's Indigenous People on August 9, recognizing the challenges faced by nearly half a billion Indigenous Peoples worldwide. The academy aims to empower learners in 190 countries through education and digital skills training, bridging digital divides for underrepresented communities.
The PR highlights three inspiring stories:
- Tallara, an Indigenous Australian participating in a cybersecurity program and helping remote communities get online
- Julio Lezcano, a Panamanian instructor launching community networks in Emberá indigenous communities
- Dr. Gabriella Arellano, teaching at Sitting Bull Community College and part of a consortium offering cybersecurity courses in rural tribal colleges
These examples demonstrate Cisco Networking Academy's commitment to powering inclusive futures for all, including Indigenous Peoples, through education and digital skills development.
Cisco ThousandEyes hosted its third annual Partner Connection event in May, incorporating a community giveback element in collaboration with Cisco's Partnering for Purpose team. The event, held in St. Petersburg, focused on addressing youth hunger through a meal-packing activity supporting the Feed our Future program of the United Food Bank of Plant City.
Participants packed 400 snack packs, totaling approximately 1,000 pounds of food, during a 75-minute session. This initiative not only fostered partner collaboration but also made a tangible difference in the local community. The success of the event highlights the power of partnership in amplifying positive impact, setting an example for others to follow in integrating social responsibility into corporate events.
Cisco reported its Q4 and fiscal year 2024 earnings, highlighting both growth and declines. Q4 FY 2024 revenue was $13.6 billion, a 10% drop year-over-year. GAAP EPS decreased by 44% to $0.54, while Non-GAAP EPS decreased by 24% to $0.87. However, product order growth was strong at 14% YoY.
Total revenue for FY 2024 was $53.8 billion, down 6%. GAAP EPS decreased by 17% to $2.54, and Non-GAAP EPS decreased by 4% to $3.73. The Splunk acquisition contributed $4.3 billion to ARR, boosting it by 22% to $29.6 billion. Software revenue reached $18.4 billion, up 9% YoY.
Guidance for Q1 FY 2025 estimates revenue between $13.65-$13.85 billion and Non-GAAP EPS between $0.86-$0.88. For FY 2025, revenue is projected between $55.0-$56.2 billion, with Non-GAAP EPS between $3.52-$3.58.
A quarterly dividend of $0.40 per share is declared, to be paid on October 23, 2024.
Cisco explores how hybrid work can advance sustainability in the workforce. A Gartner survey found that 44% of workers worldwide have adopted a hybrid model, surpassing full-time office workers. Hybrid work can reduce commute-related emissions and improve employee well-being, productivity, and engagement.
Cisco's technology, including Webex, AnyConnect VPN, and ThousandEyes, enables secure remote work. The company's Smart Building solutions optimize workplaces for sustainability. Cisco aims for 100% of new products and packaging to incorporate Circular Design Principles by FY2025.
Hybrid work supports inclusivity, with features like real-time translation and AI enhancements. However, many organizations struggle to implement effective strategies. Cisco's approach, as stated by CEO Chuck Robbins, is that 'The office is a magnet, not a mandate,' emphasizing the importance of flexibility in advancing sustainability and inclusivity in the workforce.
Cisco, celebrating nearly 40 years of connecting the world through technology, continues to explore how emerging technologies can address social challenges. The company invests in organizations creating tech-enabled solutions for significant social impact. BBC StoryWorks is showcasing Cisco's global non-profit partnerships in a series called 'The Human Component', featuring:
1. Replate: A platform connecting organizations with surplus food to communities facing food insecurity.
2. Bridges to Prosperity: Using mapping technology to build bridges in Uganda, ending rural isolation and poverty.
3. Code.org: Providing programs for students to learn coding and ethical use of technology.
These partnerships aim to break down barriers to opportunity, forge human connections, and create thriving communities, aligning with Cisco's commitment to powering an inclusive future for all.
Cisco highlights its commitment to environmental conservation through partnerships with various organizations as part of its Plan for Possible sustainability strategy. The company supports initiatives like:
1. Reconnecting Northland in New Zealand, which helps community groups protect biodiversity and improve ecosystem health.
2. NetHope's Climate Intersections Grant program, supporting the Wildlife Conservation Society's use of digital solutions for global conservation efforts.
3. Farmers for Forests in India, combating deforestation using geospatial and drone technology for agroforestry projects.
4. Yayasan Konservasi Alam Nusantara (YKAN) in Indonesia, utilizing AI-powered FishFace technology to manage fisheries and preserve marine biodiversity.
These partnerships demonstrate Cisco's commitment to fostering innovative solutions and global collaborations to protect ecosystems and create a sustainable future.
Cisco (NASDAQ: CSCO) has announced a conference call scheduled for August 14, 2024, at 1:30 PM (PT) to discuss its fourth quarter and fiscal year 2024 financial results. The financial results, covering the period ending July 27, 2024, will be released via PR Newswire after market close on the same day. Investors can access the call via telephone or listen to a live audio broadcast with corresponding slides on Cisco's investor relations website. A telephone playback will be available from August 14 to August 20, 2024, and an archived version of the webcast will be accessible on Cisco's Investor Relations website.
The AI-Enabled ICT Workforce Consortium, led by Cisco (NASDAQ: CSCO), has released a report titled 'The Transformational Opportunity of AI on ICT Jobs'. The study analyzes AI's impact on top technology jobs and outlines training opportunities. Key findings include:
- 92% of ICT jobs analyzed are expected to undergo high or moderate transformation due to AI advancements.
- Entry-level and mid-level ICT professionals are at the forefront of AI transformation.
- Essential skills for AI preparedness include AI literacy, data analytics, and prompt engineering.
The report provides a Job Transformation Canvas for 47 ICT roles across seven job families. Consortium members, including Cisco, IBM, Intel, Microsoft, and SAP, have committed to training over 95 million individuals in digital and AI skills over the next decade.
