It was an interesting year for the world’s largest networking vendor. Cisco Systems Inc. put up record revenue and earnings despite a highly volatile macro environment affected by wars, social issues, inflation, rising interest rates and the like. The company also made the biggest acquisition in its history in September when it announced the purchase of Splunk.
Cisco Systems Inc. released its FY 23 Purpose Report this week at its Cisco Live APJC in Melbourne conference in Melbourne, Australia, and I had the opportunity to talk to a group of Cisco executives about its contents. In this article, I’ll focus on the report’s context, how the company will set the stage for the next generation of workers, and how the company is handling sustainability today and in the future.
Networking giant Cisco Systems Inc. reported good news/bad news numbers in its fiscal first-quarter 2024 results this week, handily beating expectations but lowering its outlook. Revenue and earnings for the quarter were $14.67 billion and $1.11 per share, respectively, compared wth Street expectations of $14.61 billion and $1.03 per share. However, Cisco’s outlook was lower than expected.
The onslaught of press, research and perceived urgency has done little to prepare business and information technology leaders to deploy artificial intelligence-powered technologies. That’s according to the first Cisco AI Readiness Index, issued Tuesday. The company used a double-blind survey of over 8,000 business and IT leaders worldwide.
Cisco is holding its annual Partner Summit this week in Miami. At the event, Cisco rolled out several new tools and enhancements to existing products, services, and programs. One of the significant announcements is the overhaul of the Partner Incentive Program, which represents the most substantial change in over a decade.