Kristina M. Johnson, a director at Cisco Systems, Inc. (NASDAQ:CSCO), a $238.5 billion market cap technology giant known for its low price volatility according to InvestingPro, recently sold 7,500 shares of the company's common stock. The transaction, executed on December 6, 2024, was completed at a price of $59.87 per share, amounting to a total value of $449,025. The sale occurred as the stock trades near its 52-week high of $60.23, having delivered a strong 32% return over the past six months. Following this sale, Johnson retains ownership of 65,915 shares, which includes 8,757 dividend equivalents accrued on vested deferred restricted stock units. Each dividend equivalent corresponds to one share of Cisco common stock. For deeper insights into insider transactions and comprehensive analysis, access the full Pro Research Report available on InvestingPro.
In other recent news, Cisco Systems, Inc. reported a strong financial performance for Q1 FY2025, with revenues reaching $13.8 billion and non-GAAP earnings per share (EPS) of $0.91, exceeding projections. The company's focus on artificial intelligence (AI) infrastructure and security has shown significant results, with a sharp increase in demand from webscale customers and a doubling of security orders. Cisco's investments in AI and networking seem to be in line with market needs, as indicated by these financial outcomes.
Cisco's annualized recurring revenue (ARR) constituted 57% of the total revenue, and product orders saw a 20% increase year-over-year, with enterprise orders up by 33%. Security orders more than doubled, and data center switching experienced significant growth. However, networking revenue declined by 23%, reflecting a high backlog in the previous year.
Looking ahead, Cisco anticipates FY2025 revenue to be between $55.3 billion and $56.3 billion, with non-GAAP EPS expected to range from $3.60 to $3.66. The company also expressed confidence in its strategic direction, particularly in AI and networking, despite facing challenges in the U.S. federal business. These are the latest developments in Cisco's business operations.
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