Tech Industry Sheds 34,250 Jobs as Companies Embrace AI Innovation
Microsoft was reported to be in the process of downsizing its gaming sector, affecting approximately 1,900 employees, which is 9% of its gaming division.
Networking giant Cisco Systems, Inc. is increasing its Internet-of-Things portfolio and introduces a new framework.
Microsoft was reported to be in the process of downsizing its gaming sector, affecting approximately 1,900 employees, which is 9% of its gaming division.
This is Cisco’s largest acquisition till date as the company plans to amp up its cybersecurity division to boost the company’s revenue.
With the introduction of its AI networking chips, Cisco aims to challenge the dominance of Broadcom and Marvell by offering a unique blend of intelligence and versatility.
Cisco has upped its guidance for the 2023 fiscal year to between $3.73 and $3.78 adjusted earnings per share
Cisco has given a strong outlook for the coming fiscal year after its shares surged owing to a sound fiscal Q4 2022 report.
Moving forward from the fiscal quarterly report, Cisco gave better-than-expected guidance for its full 2023 fiscal year.
According to the company, Covid-19 lockdowns in China and the war between Russia and Ukraine have been the key factors that affected its financial results.
Despite the Dow Jones slump, it was not all bad for the global stock market on Thursday as a number of corporations that shared their earnings report helped provide the cushion the market needed.
In the second quarter, Cisco recorded a revenue of $12.7 billion, which is an increase of 6 percent year over year.
According to the statement issued by Cisco, the company has managed to amplify its revenue by 8% in the fiscal fourth quarter.