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Cisco Systems (CSCO.US) Swells 18% Premarket, Plans to Cut ~4,000 Jobs
Cisco Systems, Inc. (CSCO.US) surged 18% in pre-market trading on Thursday (14th), last at USD120.25. For its third fiscal quarter ended April 25, the company reported revenue of U...
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Cisco Systems (CSCO.US) Swells 18% Premarket, Plans to Cut ~4,000 Jobs
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Cisco Systems, Inc. (CSCO.US)      surged 18% in pre-market trading on Thursday (14th), last at USD120.25. For its third fiscal quarter ended April 25, the company reported revenue of USD15.84 billion, beating market expectations of USD15.56 billion.

It expected revenue for FY2026 to range between USD62.8 billion and USD63 billion, higher than its previous forecast of between USD61.2 billion and USD61.7 billion.

Related NewsPersonal Income MoM for Apr in United States is 0%, lower than the previous value of 0.6%. The forecast was 0.4%.
The company announced that it will cut fewer than 4,000 jobs in the fourth fiscal quarter, representing less than 5% of its total workforce, in order to step up investment in AI and related areas.

The restructuring plan is expected to incur costs of up to USD1 billion, of which USD450 million will be recognized in the fourth fiscal quarter, with the remainder to be recorded in FY2027.
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