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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Cisco Systems, Inc.    CSCO

CISCO SYSTEMS, INC.

(CSCO)
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Cisco's Webex participants near 600 mln as pandemic flares again

10/22/2020 | 08:24pm EST

STOCKHOLM/SAN FRANCISCO, Oct 22 (Reuters) - Cisco's video-conferencing app Webex clocked 590 million participants in September and is on track to record over 600 million this month, nearly double the numbers recorded in March when countries started shutting down due to the pandemic.

After offices started to close down due to COVID-19, people switched on video conferencing platforms to work from home, leading to swift growth in platforms such as Webex, Zoom Video Communications Inc and Microsoft Corp's Teams.

While the expansion in Webex user numbers started in March, it has not tapered off, and attendees are at all-time highs in October amid a resurgent pandemic, Jeetu Patel, Cisco Systems Inc's general manager for security and applications business, told Reuters.

Webex had recorded 324 million meeting participants in March. Zoom disclosed 300 million daily participants in April, and Teams in April disclosed 200 million. The numbers may not be comparable because the companies may use different methods of counting attendees and do not disclose those methods.

Zoom and Microsoft declined to give updated user numbers.

Webex and Teams were initially focused on business customers, while Zoom cornered the market for everything from virtual classrooms to church services.

Though the meeting participants have increased more than three-fold from last year, a very large percentage of usage still comes from enterprises, Cisco said.

But Cisco is working to change that. Webex has a new product for schools that features the ability to host a large classroom, split the class into small groups, and bring it back together.

"We are focused on education very aggressively," Patel said.

Cisco also plans to roll out a feature to filter background noise such as a barking dog or the sound of a passing car from an ongoing meeting following its acquisition of BabbleLabs in August.

"We will have it available to all WebEx users from Oct. 30 for no additional charge," Patel said, adding that Cisco remains open to more acquisitions that will add new capabilities to Webex. (Reporting by Supantha Mukherjee in Stockholm and Stephen Nellis in San Francisco; Editing by Christopher Cushing)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CISCO SYSTEMS, INC. 0.61% 44.38 Delayed Quote.-8.03%
MICROSOFT CORPORATION 0.06% 214.36 Delayed Quote.35.85%
ZOOM VIDEO COMMUNICATIONS, INC. -0.85% 410.01 Delayed Quote.502.60%
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Financials (USD)
Sales 2021 48 753 M - -
Net income 2021 10 132 M - -
Net cash 2021 17 899 M - -
P/E ratio 2021 18,2x
Yield 2021 3,28%
Capitalization 188 B 188 B -
EV / Sales 2021 3,48x
EV / Sales 2022 3,25x
Nbr of Employees 77 500
Free-Float 99,9%
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Cisco Systems, Inc. Technical Analysis Chart | CSCO | US17275R1023 | MarketScreener
Technical analysis trends CISCO SYSTEMS, INC.
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 26
Average target price 49,14 $
Last Close Price 44,38 $
Spread / Highest target 46,5%
Spread / Average Target 10,7%
Spread / Lowest Target -7,62%
EPS Revisions
Managers
NameTitle
Charles H. Robbins Chairman & Chief Executive Officer
Tiang Yew Tan Chief-Operations & Executive Vice President
Kelly A. Kramer Chief Financial Officer & Executive Vice President
Chuck Churchill Director-Information Technology
Roderick C. McGeary Independent Director
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