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Technology / AI and automation

CISCO HAS LION’S SHARE OF REDMOND’S LAN BUSINESS

Cisco Systems Inc managed to surprise analysts that watch its every move with the revelation this week that it is supplying Microsoft Corp with roughly 80% of the software giant’s internal LAN needs. It seems that those in the know were aware of Cisco’s presence in Redmond’s operations but the extent of its business was largely a mystery. Cisco also caught Wall Street off guard with 30-50% first-quarter growth in sales of products for small- to-medium-sized businesses, much higher than expected. It’s been reported that next year Cisco plans to announce a formal strategy to enter the consumer market, possibly through the creation of a business unit. The company says it has already made significant advances in adapting its technology for the consumer niche. Last Tuesday, Cisco reported pro forma net income up nearly 30% at $416m on revenue up 30% at $1.87bn (CI No 3,283). It also announced its sixth stock split since going public in 1990.

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CBR Staff Writer

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