Cisco Sys Inc Stock Price, News & Analysis

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.

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.