What is Cisco Systems?
Cisco Systems is an American multinational conglomerate that’s become a global leader in IT products development. Cisco shapes the future of the internet, transforming the way people connect and communicate. The company delivers products, services and integrated solutions by building networks and transforming internet technologies.
Cisco groups its products and services into various categories, including: Analytics and Automation software, Application Networking Services, Cloud and Systems Management, Infrastructure Software, Wireless, Video, and Security. The company offers switching products, storage products and network routing products. Its competitors include Hewlett-Packard, IBM and Microsoft.
Cisco Systems derives its name from the city of San Francisco; the corporate logo is a representation of the Golden Gate Bridge. Its mission statement is: “Shape the future of the Internet by creating unprecedented value and opportunity for our customers, employees, investors and ecosystem partners.”
Who are the key people at Cisco Systems?
Chuck Robbins is Chairman and Chief Executive Officer of Cisco. He has served as CEO since July 2015, and has been with the company for 20 years. Other key figures include Chief Digital Officer Kevin Bandy, Chief Strategy Officer Hilton Romanski, and Chief Financial Officer Kelly Kramer.
What is the modern history of Cisco Systems?
Cisco Systems was founded in 1984 by Stanford University computer scientists Leonard Bosack and Sandy Lerner. Bosack was a pioneer of Local Area Network (LAN) - the router-based PC-communication technology.
Cisco grew rapidly, and by the time the company went public in 1990 it had a market capitalisation of $224 million. A decade later at the peak of the dotcom bubble, Cisco was the world’s most valuable company with a $500 billion-plus market capitalisation. Over its more than three decades of existence, Cisco has made almost 200 acquisitions. Of these, 11 deals were in excess of $1 billion.
In 2014, Cisco announced $150 million of global funding for early-stage firms specialising in the Internet of Things. Cisco also increasingly sought to focus on cloud-based products, and started making a gradual exit from the consumer market to concentrate on being an enterprise-based company. As part of this, in 2015 Cisco announced the divesture of its TV set-top-box and cable modem business to Technicolor SA for $600 million.
What are the latest developments at Cisco Systems?
In its Q2 2018 results, Cisco Systems reported $0.63 earnings per share for the quarter, exceeding a consensus estimate of $0.59. The company posted revenue of $11.89 billion for the quarter, against the consensus estimate of $11.82 billion.
Shares in Cisco Systems rallied strongly in the first quarter of 2018, and by the end of March they had climbed more than 12% since the start of the year. Goldman Sachs added Cisco Systems to its conviction list, forecasting "significant" returns as the company embarked on share repurchasing. Follow Capital.com for the latest Cisco Systems share price.
Where does Cisco Systems operate?
Cisco Systems is based at the heart of America’s Silicon Valley in San Jose, California.It operates through three geographic segments: Americas; Europe, the Middle East and Africa (EMEA); and Asia Pacific, Japan and China (APJC).
Where is Cisco Systems traded?
Cisco Systems has been listed on the NASDAQ since 1990. In 2009, Cisco stock was added to the Dow Jones Industrial Average. It is also included in the S&P 500 Index, the Russell 1000 Index and the NASDAQ-100 Index. Check out Capital.com for the latest CSCO chart. We’ll keep you up to date and in the picture.