Yahoo Finance Cisco (CSCO) Aids Digital Transformation With Lenovo Tie-Up
Cisco Systems CSCO is expanding its footprint into the realm of integrated infrastructure and networking solutions through its recent collaboration with Lenovo Group LNVGY to accelerate digital transformation for businesses worldwide.
The partnership between Cisco and Lenovo aims to deliver fully-integrated solutions designed to streamline and expedite the digital transformation journey for organizations of all sizes.
By combining Lenovo’s edge-to-cloud portfolio with the Cisco Nexus networking ecosystem, the collaboration aims to provide customers with best-in-class network performance, enhanced security and unparalleled scalability.
With a focus on accelerating time-to-innovation, simplifying management, and ensuring vendor simplicity, this partnership is poised to empower businesses with turnkey solutions that optimize operational excellence, AI/ML networking, sustainability and advanced automation analytics practices.
Cisco Systems, Inc. Price and Consensus
Cisco Systems, Inc. price-consensus-chart | Cisco Systems, Inc. Quote
Expanding Clientele Boosts Portfolio
The latest move bodes well with Cisco’s commitment to driving digital transformation through its latest partnership and integrated infrastructure solutions for enhanced business outcomes.
Expanding clientele has been noteworthy. In addition to Lenovo, Cisco also collaborated with AT&T T and Ford Motor F to enhance its portfolio further.
Cisco recently collaborated with AT&T to introduce a seamless digital buying experience for businesses, offering 5G Fixed Wireless Access through the Meraki MG52 and MG52E gateways, simplifying deployment and management while ensuring scalable, resilient and secure connectivity nationwide.
The company also collaborated with Ford Motor Company in March to announce the integration of the Webex app into select Ford and Lincon vehicles, providing immersive meeting experiences and seamless connectivity for remote work on the go.
Acquisitions have played a significant role in shaping the company’s growth trajectory. In April, it announced the completion of its acquisition of Isovalent, enhancing its position in cloud-native networking and security.
In March, Cisco announced the completion of its acquisition of Splunk, aiming to deliver full visibility and insights across enterprises' digital footprints, enhancing security, observability, networking and enabling AI adoption.
Adding Splunk and Isovalent will help expand its footprint in the cybersecurity domain and accelerate its strategy of securely connecting everything.
Cisco's Q4 Forecast Cloudy
Despite Cisco’s robust portfolio and expanding clientele its top-line growth was adversely impacted by the increasing macroeconomic uncertainty and weakness in networking revenues. In third-quarter fiscal 2024, networking revenues declined 27% year over year to $6.52 billion.
The stock has declined 8% against the Zacks Computer & Technology sector’s growth of 15.3% year to date.
This Zacks Rank #3 (Hold) company’s fourth-quarter fiscal 2024 revenues are expected to be between $13.4 billion and $13.6 billion. The Zacks Consensus Estimate for revenues is pegged at $13.52 billion, indicating an 11.1% decline from the year-ago quarter’s levels. You can see the complete list of today’s Zacks #1 Rank stocks here.
Non-GAAP earnings per share are anticipated to be between 84 cents and 86 cents. The Zacks Consensus Estimate is currently pegged at 86 cents, which remained unchanged in the past 30 days.
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