_cisco-raises-q4-revenue-above-analysts39-estimates-driven-by-enterprise-spending-surge.jpg "Cisco Raises Q4 Revenue Above Analysts' Estimates, Driven by Enterprise Spending Surge from loga enterprises Video Screenshot Preview")
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⏲ Duration: 0:33
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✓ Published: 17-May-2024
👁 View: 160K times
✓ Published: 17-May-2024
Description:
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.
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.
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