Cisco Sys Inc Stock Price, News & Analysis

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 Key findings include a 90% surge in blocked access attempts from outdated devices and a 40% increase in daily authentications for cloud applications.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.

Cisco announced its participation in several financial conferences in November 2020, including the RBC Capital Markets Global Technology Conference on November 18 and the Credit Suisse 24th Annual Technology Conference on November 30. These events will be webcasted, allowing interested stakeholders to access them via Cisco's Investor Relations website. Leading the discussions are Cisco executives Scott Harrell and Jonathan Davidson, focusing on the company's advancements in networking technologies.

Cisco has announced the launch of its AppDynamics Software-as-a-Service (SaaS) offering in Asia, specifically in India. This move allows customers to access AppDynamics solutions via a local cloud, enhancing their ability to drive digital transformations. The new service addresses data sovereignty concerns, particularly with the anticipated Personal Data Protection Bill 2019 in India. This addition becomes the fourth SaaS region for AppDynamics, following offerings in Australia, Germany, and the US, affirming the company's ongoing commitment to the Asian market.

Cisco has announced a conference call on November 12, 2020, at 1:30 PM PT, to discuss its Q1 FY2021 financial results, covering the period ending on October 24, 2020. The earnings release will be distributed via PR Newswire after market close on the same day. Interested parties can listen via telephone or the internet, with options for live and replay audio available. The conference call will offer insights into Cisco's performance and initiatives.

Cisco (NASDAQ: CSCO) has launched new software-delivered solutions aimed at simplifying IT operations across multicloud environments. These innovations include Cisco Intersight, designed for hybrid cloud management, Cisco Nexus Dashboard for multicloud network operations, and enhancements to Cisco Identity Services Engine (ISE) for zero-trust network access. The new solutions aim to empower businesses to achieve greater agility and efficiency in a rapidly evolving technological landscape while promoting faster application delivery.

Cisco Security unveiled new enhancements aimed at improving security portfolio efficiency amid evolving threats. Innovations include Extended Detection and Response (XDR), Zero Trust, and Secure Access Services Edge (SASE). The SecureX platform, gaining over 1,000 new customers monthly since its launch, boasts a 95% reduction in threat detection time and an 85% decrease in remediation time. Additionally, Cisco has streamlined product names by 50% to simplify customer experience and optimize security operations. These developments position Cisco as a leader in integrated cybersecurity solutions.

Cisco has unveiled new solutions, including Webex Legislate and Connected Justice, to support government operations during the Covid-19 pandemic. These tools enable remote legislative and judicial functions, allowing government bodies to maintain essential services safely. The Webex Legislate solution offers secure video conferencing tailored for legislative needs, enhancing participation and procedural integrity. Additionally, Cisco's expanded Public Funding Office aims to assist institutions in accessing stimulus funding. The initiative highlights Cisco's commitment to facilitating business continuity and efficiency in public governance.