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Cisco Systems, Inc. reports developments across enterprise networking, security, collaboration, observability and AI infrastructure. Company news commonly covers quarterly earnings schedules, investor conference participation, new security and networking products, AI deployment architectures, industrial and wireless research, and governance updates such as board appointments.
Recent updates also highlight Cisco's work on AI security, Secure AI Factory with NVIDIA, quantum networking research through the Cisco Universal Quantum Switch, and reports on operational technology, wireless networks and cybersecurity readiness.
Cisco (NASDAQ: CSCO) is set to hold its 2022 Virtual Annual Meeting of Stockholders on December 8, 2022, at 8:00 a.m. PST. This meeting will be accessible via audio webcast, featuring a participation opportunity for stockholders of record as of October 15, 2022. Attendees can vote and ask questions online. To join, visit here. A replay will also be available on Cisco's Investor Relations website. For further details, download the Annual Report and Proxy.
Cisco AppDynamics has launched new capabilities within AppDynamics Cloud designed to enhance observability for cloud-native applications in correlation with business context. This update will initially focus on applications running in AWS environments, enabling IT teams to address potential issues and optimize performance efficiently. A survey indicated that 71% of IT professionals recognize a need for improved observability in their organizations. These updates aim to streamline operations and enhance the value derived from AWS services.
Cisco has announced its participation in key financial conferences in December 2022. Notable sessions include the Raymond James Technology Investors Conference on December 6 at 6:45 a.m. PT, featuring Kip Compton, and the Barclays Global Technology, Media and Telecommunications Conference on December 7 at 12:10 p.m. PT, with Bill Gartner as a speaker. Interested parties can view the events via Cisco's Investor Relations website. This activity highlights Cisco's ongoing engagement with the financial community.
Insight Enterprises has been awarded three prestigious titles by Cisco for 2022: Americas Commercial Partner of the Year, USA East Innovation Partner of the Year, and Canada SMB Partner of the Year. These accolades highlight Insight's commitment to innovative business practices and successful collaboration with Cisco in critical areas like cybersecurity and digital transformation. Insight is also recognized for its dedication to environmental sustainability through Cisco's global certification. The awards reflect Insight's ongoing ambition to be a leading solutions integrator in the modern digital landscape.
Cisco reported Q1 FY 2023 revenue of $13.6 billion, a 6% increase year over year, with non-GAAP EPS at $0.86, up 5%. GAAP EPS declined 7% to $0.65. Annualized recurring revenue rose 7% to $23.2 billion, with product ARR growing 12%. Remaining performance obligations reached $30.9 billion, up 3%. Guidance for Q2 FY 2023 indicates revenue growth of 4.5% to 6.5% and GAAP EPS of $0.59 to $0.64. Cisco aims to optimize its operations amid a restructuring plan, projecting $600 million in charges.
Team PoliMOVE won The Indy Autonomous Challenge Powered by Cisco at the Texas Motor Speedway on November 11, 2022, in a race featuring six autonomous teams. The competition showcased speeds exceeding 140 mph despite challenging weather conditions. Prof. Sergio Savaresi highlighted the critical AI driver maneuvers during the race, essential for future autonomous vehicle safety. Cisco's technology facilitated vital in-vehicle connectivity. The event attracted 1,800 STEM students, reinforcing Cisco's commitment to inspiring the next generation of innovators.
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Cisco announced its participation in the Credit Suisse 26th Annual Technology Conference scheduled for November 29, 2022, at 10:40 a.m. PT. Senior Vice President, Kip Compton, will represent the company during this event. Interested investors can view the session via Cisco's Investor Relations website.
Cisco has announced a conference call scheduled for November 16, 2022, at 1:30 PM PT to discuss its Q1 fiscal year 2023 financial results, covering the period ending October 29, 2022. Financial results will be released via PR Newswire after market close on the same date. Interested listeners can join via telephone or internet; a playback option will be available from November 16 to November 23, 2022. Cisco, listed under the ticker CSCO, is recognized as a leader in internet technology.