Cisco forecast knocked by supply chain snags, shares fall

Cisco Systems Inc forecast current-quarter revenue below expectations as supply chain shortages and delays drive up costs.

Shares of the network gear maker fell 6.3% in extended trading after it said it expects second-quarter revenue to grow 4.5% to 6.5% year-over-year, compared with Wall Street expectations of about 7.4%.

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Businesses across the globe are facing an unprecedented semiconductor shortage that has pushed up expenses, hurting companies such as Cisco that use chips in their products.

Cisco Chief Financial Officer Scott Herren told Reuters the company also faces higher transport and logistics costs in its supply chain. Cisco is making progress on pinpointing and resolving component shortages but getting everything to the right place remains a challenge, he said.

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Cisco shares fall on forecast

Cisco Systems Inc. reported fiscal third-quarter results that topped Wall Street expectations but it was the company’s forecast for the current quarter that sent shares down.

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Cisco expects its per-share earnings to range from 81 cents to 83 cents, which would fall short of the expectations for 85 cents per share

Shares fell 6% in after-hours trading.

Ticker Security Last Change Change %
CSCO CISCO SYSTEMS, INC. 52.92 +0.01 +0.02%

The company saw high demand for its products during the coronavirus pandemic as more people worked from home. That demand is expected to cool as economies reopen.

The maker of routers, switches, software and services reported  net income of $2.86 billion.

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Tufin Announces Policy Change Automation App for Cisco ACI

BOSTON–()–Tufin® (NYSE: TUFN), a company pioneering a policy-centric approach to security and IT operations, today announced the release of the Policy Change Automation (PCA) app for Cisco ACI, further advancing Tufin’s leadership in security policy automation in Software Defined Networking (SDN) environments.

Cisco Application Centric Infrastructure (Cisco ACI), a SDN solution, offers many deployment and configuration options that can lead to potentially complex implementations, placing strains on day-to-day operations. While automation solutions for ACI avoid manual errors and make change requests more efficient, they must accommodate a wide variety of possible implementations, deploying the right ACI contracts and relevant firewall rule changes.

The PCA app for Cisco ACI addresses these challenges and accelerates business application deployment. The app integrates with Ansible to provide flexible automation of changes to Cisco ACI access rules in compliance with an organization’s security policies. And through Tufin’s market-leading security policy automation

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