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Technology / AI and automation


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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