Cisco revealed plans to slash its headcount by 5% — roughly 4,250 employees across the tech behemoth’s global workforce — as it steps up its focus on artificial intelligence.San Jose, Calif.-based Cisco said the layoffs — which will cost the company some $800 million in pre-tax charges related to severance and benefits — will enable it to focus on high-growth areas such as AI and software development.Cisco CEO Chuck Robbins told investors on Wednesday: “Our innovation sits at the center of an increasingly c ...

The stock market is at record highs. And more speculative growth names such as artificial intelligence-focused technology firms are skyrocketing. Some analysts are saying we could even see a bubble in the tech sector in 2024.The good news, though, is that there are still plenty of rock solid investment opportunities in blue chip dividend stocks for investors today. While the market may be volatile this year, these undervalued dividend stocks are set to prosper for decades to come.Qualcomm (QCOM)Source: Aksh ...

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: An exterior view of Cisco Systems Inc. headquarters, May 9, 2012, in Santa Clara, Calif. On Wednesday, Feb. 14, 2024, internet networking pioneer Cisco Systems announced that more than 4,000 employees are being laid off, joining the parade of technology companies in a trend that has helped boost their profits and stock prices wh ...

Key TakeawaysCisco System shares moved lower in extended-hours trading Wednesday after the company provided a cautious fiscal third-quarter and full-year outlook amid uncertainty surrounding the macro environment.Cisco becomes the latest tech company to announce layoffs, saying it plans to reduce its global workforce by 5%.An earnings-driven breakdown below a long-term uptrend line could act as a catalyst for another move lower. Cisco Systems, Inc. Source: TradingView.com.Shares in computer networking gi ...

Q2 Fiscal Year 2024 Conference Call Forward-Looking Statements This presentation contains projections and other forward-looking statements regarding future events or the future financial performance of Cisco, including future operating results. These projections and statements are only predictions. Actual events or results may differ materially from those in the projections or other forward-looking statements. Please see Cisco’s filings with the SEC, including its most recent filings on Forms 10-K and 10-Q, ...

Cisco Systems, Inc. (NASDAQ:CSCO) Q2 2024 Earnings Conference Call February 14, 2024 4:30 PM ET Company Participants Sami Badri - Head of Investor Relations Chuck Robbins - Chair and Chief Executive Officer Scott Herren - Executive Vice President and Chief Financial Officer Conference Call Participants Amit Daryanani - Evercore Meta Marshall - Morgan Stanley David Vogt - UBS Simon Leopold - Raymond James Tal Liani - Bank of America Samik Chatterjee - JPMorgan Ben Reitzes - Melius Research Matt Niknam - Deut ...

Cisco Systems Inc. gave some more details on the timing of revenue from its anticipated orders related to artificial intelligence, and it looks like the networking giant is going to be a late bloomer in AI. On Wednesday, Cisco CSCO repeated comments from last quarter about a line of sight into $1 billion of orders related to products for building AI infrastructure for fiscal 2025. Cisco Chief Financial Officer Scott Herren told analysts on the company’s earnings call that he expects “the majority of that bi ...

For the quarter ended January 2024, Cisco Systems (CSCO) reported revenue of $12.79 billion, down 5.9% over the same period last year. EPS came in at $0.87, compared to $0.88 in the year-ago quarter.The reported revenue represents a surprise of +0.53% over the Zacks Consensus Estimate of $12.72 billion. With the consensus EPS estimate being $0.84, the EPS surprise was +3.57%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Stree ...

Cisco Systems (CSCO) came out with quarterly earnings of $0.87 per share, beating the Zacks Consensus Estimate of $0.84 per share. This compares to earnings of $0.88 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 3.57%. A quarter ago, it was expected that this seller of routers, switches, software and services would post earnings of $1.03 per share when it actually produced earnings of $1.11, delivering a surprise of 7.77%.Ov ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, ...