secwatch.observer — SEC 8-K summary
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Issuer:     CISCO SYSTEMS, INC. (CSCO)
CIK:        0000858877
Form:       8-K
Filed at:   2024-02-14T23:59:59+00:00
Accession:  0001193125-24-036201
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 2.05, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Cisco Q2 rev $12.8B (-6% YoY); GAAP EPS $0.65; announces 5% workforce cut, $800M charge
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- Q2 revenue $12.8B down 6% YoY; GAAP EPS $0.65 (down 3%), Non-GAAP EPS $0.87 (down 1%).
- Networking revenue down 12% YoY; Security +3%, Collaboration +3%, Observability +16%.
- Restructuring plan eliminates ~5% of global workforce; expects ~$800M pre-tax charges, majority in Q3 FY2024.
- Dividend increased to $0.40/share (+3%); payable Apr 24, 2024 to holders of record Apr 4, 2024.
- Q3 FY2024 guidance: rev $12.1-12.3B, Non-GAAP EPS $0.84-0.86. FY2024 rev $51.5-52.5B, Non-GAAP EPS $3.68-3.74.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/858877/000119312524036201/0001193125-24-036201-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/858877/000119312524036201/d719981d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-24-036201

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