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Benzinga
  • 2 years ago
Cisco Systems forecast fourth-quarter revenue above analysts' low expectations, benefiting from a pick-up in enterprise spending and easing supply chain constraints. Cisco's revenue fell 13% but beat estimates, with Splunk acquired to boost cybersecurity. Cisco is trying to reduce reliance on its massive networking equipment business, which has suffered from supply issues and a post-pandemic slowdown. Cisco has benefited from increased spending as companies boost AI and cloud computing needs.
Transcript
00:00It's Benzinga and here's what's on the block.
00:02Cisco Systems forecasted fourth quarter revenue above analysts' low expectations,
00:07benefiting from a pickup in enterprise spending and easing supply chain constraints.
00:11Cisco's revenue fell 13%, but beat estimates with Splunk acquired to boost cybersecurity.
00:17Cisco is trying to reduce reliance on its massive networking equipment business,
00:21which has suffered from supply issues and post-pandemic slowdown.
00:24Cisco has benefited from increased spending as companies boost AI and cloud computing needs.
00:29For all things money, visit Benzinga.com.
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