This is expected to add value by providing speed and cost benefits.įor the fiscal year 2022 ended July 31, CSCO’s revenue increased 3.6% year-over-year to $51.6 billion, while its operating income increased 8.9% year-over-year to $13.97 billion. On October 5, CSCO announced an expansion of its existing SD-WAN partnership with Microsoft ( MSFT ) to allow customers to sidestep the public internet and MPLS to send their Cisco SD-WAN traffic over the latter’s Azure cloud backbone. The company operates through three geographic segments: the Americas Europe, the Middle East, and Africa (EMEA) and Asia Pacific, Japan, and China (APJC). This indicates another headwind for tech companies.ĬSCO designs, manufactures, and sells internet protocol-based networking and other products across networking, security, collaboration, applications, and the cloud. The recently released jobs data for September seems to have paved the way for another significant interest rate increase by the Federal Reserve during its meeting next month. The stock has plummeted 59.9% year-to-date. Also, analysts expect its EPS and revenue for the fiscal 2023 third quarter (ending October 2022) to come in at $0.71 and $5.85 billion, indicating a 39.3% and 17.6% year-over-year decline, respectively. The company said the ban impacted $400 million in potential sales to China.įor the fiscal 2022 second quarter, NVDA’s non-GAAP net income and EPS declined 50.7% and 51% year-over-year to $1.29 billion and $0.51, respectively. The above restrictions have closely followed last month’s announcement in which the White House blocked NVDA from exporting high-end graphics chips to China due to similar concerns.
#Nvda stock earnings announcement license#
The companies must now obtain a license from the Commerce Department to export advanced chips and chip-making equipment. On October 7, new restrictions were imposed on chipmakers, including NVDA, to prevent technology from advancing China’s military power. NVIDIA Corporation ( NVDA ) provides graphics, computation, and networking solutions globally.
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