iifl-logo-icon 1

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Cisco announces restructuring, raises full-year outlook

17 Nov 2022 , 01:39 PM

Cisco Systems Inc raised its full-year revenue and earnings forecasts. The company also announced a $600 million severance pay and other restructuring payments. This affects about 5% of the workforce. It comes when companies like Amazon Inc and Facebooks parent company Meta Inc are cutting staff to deal with a possible economic downturn.

While addressing supply chain challenges, Cisco invested in cloud solutions and raised target prices to improve business and attract customers. Cisco is planning a restructuring in the second quarter of fiscal 2023. The company said it would record expenses over the next few quarters. This includes some costs associated with shrinking office space as more people work in hybrid home office models.

The shares of the company rose 5% in extended trading on November 16th.

The company expects annual revenue growth of 4.5% to 6.5% and adjusted earnings from $3.51 to $3.58. Its revenue was $13.63 billion in the first quarter, according to Refinitiv data. Excluding items, the company has earned 86 cents per share, 2% above expectation.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • Cisco Inc
  • lay offs
  • Restructuring
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More

Most Read News

Oil Prices Tumble as Supply Outpaces Demand
23 Jul 2024|10:04 AM
Stocks under F&O ban on July 23, 2024
23 Jul 2024|09:33 AM
Top 10 stocks for today – 23rd July, 2024
23 Jul 2024|09:23 AM
Read More
Knowledge Centerplus
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Securities Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Knowledge Centerplus

Follow us on

facebooktwitterrssyoutubeinstagramlinkedin

2024, IIFL Securities Ltd. All Rights Reserved

ATTENTION INVESTORS
  • Prevent Unauthorized Transactions in your demat / trading account Update your Mobile Number/ email Id with your stock broker / Depository Participant. Receive information of your transactions directly from Exchanges on your mobile / email at the end of day and alerts on your registered mobile for all debits and other important transactions in your demat account directly from NSDL/ CDSL on the same day." - Issued in the interest of investors.
  • KYC is one time exercise while dealing in securities markets - once KYC is done through a SEBI registered intermediary (broker, DP, Mutual Fund etc.), you need not undergo the same process again when you approach another intermediary.
  • No need to issue cheques by investors while subscribing to IPO. Just write the bank account number and sign in the application form to authorise your bank to make payment in case of allotment. No worries for refund as the money remains in investor's account."

www.indiainfoline.com is part of the IIFL Group, a leading financial services player and a diversified NBFC. The site provides comprehensive and real time information on Indian corporates, sectors, financial markets and economy. On the site we feature industry and political leaders, entrepreneurs, and trend setters. The research, personal finance and market tutorial sections are widely followed by students, academia, corporates and investors among others.

RISK DISCLOSURE ON DERIVATIVES
  • 9 out of 10 individual traders in equity Futures and Options Segment, incurred net losses.
  • On an average, loss makers registered net trading loss close to Rs. 50,000.
  • Over and above the net trading losses incurred, loss makers expended an additional 28% of net trading losses as transaction costs.
  • Those making net trading profits, incurred between 15% to 50% of such profits as transaction cost.
Copyright © IIFL Securities Ltd. All rights Reserved.

Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248

plus
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.