What you need to know:
- The forecast indicates ongoing stabilization in demand for networking equipment, coupled with the advantages stemming from its $28 billion acquisition of cybersecurity firm Splunk.
- Despite grappling with sluggish demand due to customers adjusting their inventory post-pandemic purchasing spikes and enduring supply chain challenges, Cisco, the world’s largest networking equipment manufacturer, is showing signs of resilience.
Before the bell on Thursday, Cisco Systems’ shares surged approximately 4%, buoyed by an optimistic fourth-quarter forecast. The forecast indicates ongoing stabilization in demand for networking equipment, coupled with the advantages stemming from its $28 billion acquisition of cybersecurity firm Splunk. Despite grappling with sluggish demand due to customers adjusting their inventory post-pandemic purchasing spikes and enduring supply chain challenges, Cisco, the world’s largest networking equipment manufacturer, is showing signs of resilience.
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