Cisco Announces CFO Transition and Bolsters Earnings Forecast

Published 10 hours agoCSCO

Cisco Announces CFO Transition and Bolsters Earnings Forecast

Cisco Systems has unveiled major changes as Scott Herren, the company's Chief Financial Officer, plans to retire on July 26, 2025. Succeeding him will be Mark Patterson, the current Chief Strategy Officer, beginning July 27, 2025. This leadership change coincides with positive financial results for the company, as noted by Reuters.

In its third-quarter earnings, Cisco exceeded Wall Street expectations, reporting $14.15 billion in revenue and adjusted earnings of 96 cents per share. The tech giant also revised its fiscal 2025 revenue forecast upward to a range of $56.5 billion to $56.7 billion. Similarly, adjusted earnings per share are now anticipated to be between $3.77 and $3.79, surpassing previous guidance.

These announcements had an immediate impact on the stock market, with Cisco shares climbing 3.8% in after-hours trading following the news. As the company positions itself for continued success, the leadership transition and robust financial outlook indicate strategic confidence in their future operations.

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