Networking powerhouse Cisco Systems, Inc. (CSCO) is eyeing Artificial Intelligence opportunities. The company announced its decision to acquire Splunk Inc. (SPLK) in a $28 billion cash deal, with the aim of addressing cybersecurity needs.
CSCO, set to report its fiscal 2024 first-quarter results tomorrow, reported a three percentage point market share gain in the last reported quarter. For the to-be-reported quarter, the company expects revenue between $14.5 billion and $14.7 billion, while non-GAAP EPS is projected to be between $1.02 and $1.04.
