Cisco Reports Better-Than-Expected Results Despite Revenue Drop
Cisco reported better-than-expected results for the fiscal third quarter despite a significant drop in revenue. The company’s earnings and guidance exceeded Wall Street’s estimates, leading to a positive reception from investors. Despite challenges in the public sector business, Cisco anticipates improvement and revised its fiscal 2024 revenue guidance, reflecting strategic initiatives and market expectations.
Cisco Systems Inc. Reports 6% Annual Revenue Fall in Q2 2024
Cisco Systems Inc. reported a 6% annual fall in revenue for the second quarter of fiscal year 2024, reaching $12.8 billion, slightly above expectations. CEO Chuck Robbins commented on the solid performance and future growth opportunities, but Cisco’s shares dropped by 5% in after-hours trading.
Cisco to Announce Significant Restructuring, Potential Impact on Employees
Cisco, the networking titan, is set to announce a significant restructuring that could impact numerous employees. The move reflects a broader trend among tech firms to slash costs and redefine their businesses amid industry challenges. As the tech industry braces for an uncertain future, all eyes will be on how Cisco plans to navigate this new landscape.