Categories Technology, U.S. Markets News

Cisco gets ready for new Wi-Fi technology

Connectivity giant Cisco Systems (CSCO) on Monday announced the roll-out of hardware for the next generation of Wi-Fi technology.

This will bring about a total upgrade to the company’s $28-billion infrastructure business, while aiming at a robust improvement in software revenue.

After announcing new access points and switches for businesses for Wi-Fi 6—the new standard expected to roll out by 2022—Cisco has surely taken point on the transition.

Image Courtesy: Cisco

The new network standards are expected to aid consumers due to their deeper ties with the 5G wireless networks—that will arrive around the same time. For eg, a hotel guest’s phone could handover from 5G to the hotel’s Wi-Fi network after the check-in process without having to enter the credentials.

Back in February, the Cisco stock soared to an 18-year high of $51.49, and the stock has been on a massive run ever since, inclyding trading as high as $56 today.

In the previously reported second quarter, the company’s results swung to a profit from a loss last year. Adjusted earnings soared by 16% helped by its continued momentum across the business..

With the company expecting global Internet traffic to increase threefold over the next five years, Cisco’s move to drive the industry’s transition to next-generation high-speed networks seems to be a smart one

The rise in products and services drove revenues higher. Despite the complex macro geopolitical environment, Cisco has seen a steady demand throughout the second quarter.

Listen to on-demand earnings calls and hear how management responds to analysts’ questions

Most Popular

Thriving on AI power, Broadcom (AVGO) looks headed for a record year

Broadcom, Inc. (NASDAQ: AVGO), a diversified semiconductor and software company, once again reported strong quarterly results and raised guidance, aided by a surge in the demand for its AI chips

A look at Signet Jewelers’ (SIG) performance in Q1 2025

Shares of Signet Jewelers Limited (NYSE: SIG) fell over 4% on Friday. The stock has dropped 17% year-to-date. The jewelry retailer saw sales and earnings decline year-over-year in the first

ADBE Earnings: Adobe reports higher Q2 earnings; results beat estimates

Design software maker Adobe Inc. (NASDAQ: ADBE) on Thursday reported an increase in second-quarter 2024 revenue and earnings. The results also topped expectations. Second-quarter revenues came in at $5.31 billion,

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top