Latest news with #Robbins
Yahoo
11 hours ago
- Business
- Yahoo
CSCO Q1 Earnings Call: AI Demand and New Partnerships Drive Strategic Shift
Networking technology giant Cisco (NASDAQ:CSCO) missed Wall Street's revenue expectations in Q1 CY2025, but sales rose 11.4% year on year to $14.15 billion. Its non-GAAP EPS of $0.96 per share was 4.6% above analysts' consensus estimates. Is now the time to buy CSCO? Find out in our full research report (it's free). Revenue: $14.15 billion (11.4% year-on-year growth) Adjusted EPS: $0.96 vs analyst estimates of $0.92 (4.6% beat) Revenue Guidance for Q2 CY2025 is $14.6 billion at the midpoint, roughly in line with what analysts were expecting Management raised its full-year Adjusted EPS guidance to $3.78 at the midpoint, a 1.9% increase Operating Margin: 22.6%, up from 17.2% in the same quarter last year Annual Recurring Revenue: $30.6 billion at quarter end, up 4.8% year on year Billings: $14.26 billion at quarter end, up 5.5% year on year Market Capitalization: $254.9 billion Cisco's first quarter highlighted significant momentum in its AI and networking businesses, fueled by double-digit growth in product orders and strong performance in key segments like enterprise routing and campus switching. CEO Chuck Robbins emphasized the impact of accelerated product innovation and the company's ability to deliver large-scale AI infrastructure, noting, 'We received AI infrastructure orders from web-scale customers in excess of $600 million in Q1, bringing our year-to-date total to well over $1 billion.' Management credited the quarter's growth to robust demand across web-scale, enterprise, and public sector customers, as well as ongoing adoption of new products like WiFi 7 and industrial IoT offerings. Additionally, the integration of Splunk contributed to security segment growth, with notable wins in the financial services sector. Looking ahead, Cisco's leadership pointed to a multi-year runway for AI-related demand and expansion into sovereign cloud opportunities as key drivers of its forward guidance. Robbins outlined the importance of partnerships, such as the recent collaboration with NVIDIA and new initiatives in the Middle East, stating, 'We believe the AI opportunity for us is a strong one…we play across the full stack.' CFO Scott Herren highlighted ongoing tariff uncertainty and the impact of supply chain agility on gross margins, while also noting that the ramp-up of enterprise AI deployments and new product launches are expected to support revenue and margin performance. Management's outlook is shaped by expectations of continued demand for AI infrastructure, heightened security needs, and the transition to more recurring, software-driven revenue streams. Cisco's first quarter results were shaped by heightened demand for AI infrastructure, progress in security and software, and the continued shift toward recurring revenue. Management also discussed organizational changes and new strategic partnerships. AI infrastructure order momentum: Cisco surpassed its annual AI order target early, with over $600 million in web-scale AI infrastructure orders during the quarter. Management attributed this to strong demand from large data center customers and emphasized that these orders are non-linear, depending on customer deployment schedules and Cisco's delivery capacity. Security segment acceleration: The integration of Splunk drove high double-digit growth in security orders, highlighted by a major multi-year deal with a financial services customer. Cisco's new security products, including Secure Access, XDR, and Hypershield, collectively added over 370 new customers, with many bundling security directly into network hardware. Recurring revenue focus: The company reported steady gains in annual recurring revenue and product ARR, with subscription revenue now comprising more than half of total revenue. This ongoing transition to software and services is intended to improve business predictability and resilience. Product innovation pipeline: Cisco announced several advancements, including the launch of a quantum network prototype and new AI-driven security solutions. The company also highlighted its partnership with NVIDIA to create unified network architectures for AI workloads, aiming to simplify deployment and enhance security for enterprise customers. Leadership changes: CFO Scott Herren announced his retirement, with Chief Strategy Officer Mark Patterson set to take over. Jeetu Patel was promoted to President and Chief Product Officer, reflecting a renewed focus on product strategy and accelerated innovation. Additionally, Kevin Weil, Chief Product Officer of OpenAI, joined the board of directors. Cisco expects future performance to be driven by sustained AI infrastructure investment, an expanding partner ecosystem, and increased focus on software-based solutions. Ongoing AI demand: Management believes that the global expansion of AI, including sovereign cloud initiatives and enterprise AI deployments, will provide a multi-year growth opportunity. Cisco anticipates demand from both web-scale and enterprise customers as AI applications require advanced networking and security. Supply chain and tariff management: The company faces ongoing uncertainty around tariffs, particularly after the July 9 pause ends. Cisco's ability to leverage its supply chain scale and flexibility is expected to mitigate some cost pressures, though management cautions that tariffs could impact gross margins in the near term. Recurring revenue and new solutions: Cisco is prioritizing the growth of its subscription-based offerings and accelerating the rollout of new products, such as the WiFi 7 portfolio and AI-powered security tools. These initiatives are intended to drive more predictable revenue streams and capitalize on evolving customer needs. Looking forward, the StockStory team will be monitoring (1) the pace at which AI infrastructure orders convert into revenue, (2) execution on new partnerships and sovereign cloud deals such as the HUMAIN initiative, and (3) the rollout and adoption rates for Cisco's latest security and networking products. Progress on recurring revenue growth and the impact of tariff changes on margins will also be important indicators to watch. Cisco currently trades at a forward P/E ratio of 16.5×. At this valuation, is it a buy or sell post earnings? The answer lies in our full research report (it's free). Donald Trump's victory in the 2024 U.S. Presidential Election sent major indices to all-time highs, but stocks have retraced as investors debate the health of the economy and the potential impact of tariffs. While this leaves much uncertainty around 2025, a few companies are poised for long-term gains regardless of the political or macroeconomic climate, like our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-small-cap company Exlservice (+354% five-year return). Find your next big winner with StockStory today. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
12 hours ago
- Business
- Yahoo
Over 5K sign petitions to recall Spilsbury from Mesa City Council
JoAnne Robbins arrived at Mesa City Hall May 27 with a box containing petitions signed by over 5,000 voters wanting to boot Councilwoman Julie Spilsbury from her District 2 seat. Robbins, who filed for the recall Jan. 30 and needed to gather 3,070 signatures, turned in the petitions three days before the deadline. The petition cited Spilsbury's vote to hike council members' salary, allowing the purchase and renovation of a former hotel for an emergency homeless shelter and raising the city's utility rates as the reasons to remove the second-term councilwoman. 'A lot of people are not happy,' said Robbins, who lives in Spilsbury's district, which covers central and south-central Mesa. 'The main reason is she's not representing her constituents. She voted for the homeless hotel despite the outcry from her constituents. 'Basically, she said, 'I'm going to vote what I believe is right. I'm never going to say what people want me to say. Elected representatives represent their constituents, not their own well-being.' Robbins also rapped Spilsbury for 'tripling down on DEI practices' and 'maintaining the transgender agenda of men (using) women's bathrooms and boys competing on girls' sports and using their locker rooms and bathrooms.' And there's the council pay raise, according to Robbins. 'They voted to give themselves a raise out of our pockets,' she said. 'I wish I could vote to give myself a raise. We went to many council meetings and spoke out about that. You know, give us a year, give us a chance to rebound. But no.' The council in 2023 unanimously voted for a 7% salary hike that went into effect this year. Nearly 40 people showed up Tuesday morning at City Hall. Some also were unhappy that Spilsbury, a Republican, threw her support behind Democratic candidates. Spilsbury called the move against her politically motivated, pushed by an outside group. According to the City Clerk, the petitions bore 5,235 signatures but they haven't been verified yet. The clerk will have 10 days to do so. Afterwards the petitions will be forwarded to the Maricopa County Recorder, who has 60 days to check if any signatures must be disqualified for reasons such as the individual was not a registered voter, didn't live in District 2 or because the signature was illegible. If the petitions have the minimum required number of signatures, Spilsbury has the option to resign or fight for her seat in an election. According to Deputy City Clerk Lisa Anderson, the election would likely be in March. The deadline for submitting items for an all-mail ballot this November is June 9. Should the recall move forward, candidates who want to run for the seat would have to first gather signatures to qualify for the ballot – 2% of the total votes cast for the District 2 seat at the last election, or 246 signatures, according to the City Clerk. Spilsbury said she has no intention of giving up her seat. She won a second, four-year term in last year's primary. In that nonpartisan election, she captured 8,120 or 65.91% of the 12,320 votes cast. Her opponent Melody Whetstone garnered 4,158. 'I will not resign my position,' Spilsbury said in an email. 'I have been an extremely involved and engaged council member and I care deeply about the residents of District 2 and the whole city. 'We have accomplished some amazing things in Mesa during my first four years in office. This Council has seven individuals who belong to different parties and who run the spectrum of political ideology,' she continued. 'But we are able to work together to focus on the needs of Mesa residents and find real solutions rather than score political points. When we disagree and discuss really difficult issues we treat each other with dignity and respect, which allows us to end up with better solutions.' Spilsbury added that she will continue to work to continue that success. Recall supporters showed the material they handed out to secure petition signatures. Gender issues raised But Dorean Taylor had a different view. 'I've had many neighbors sign the petitions,' said Taylor, who gathered about 30 signatures. 'There's a lot of people in the LDS community that live in my neighborhood. I think they had a great deal of trust in her based on the platform that she stands on in their faith and she kind of, she basically violated what they have. 'It's called The Family Proclamation, which says gender is not fluid (and) we don't agree with what the LGBTQ community promotes.' Taylor also accused Spilsbury of 'breaking her code of ethics' by campaigning for Democrats Vice President Kamala Harris and Gov. Tim Walz during the Presidential election. 'In this (council) position, you can't campaign for anything,' Taylor said. 'On top of that she also campaigned for the morals – or the amorals, if you will – that they stand for. She showed herself through that, basically saying, 'I'm going against what I say my faith believes in, and I'm going to go for a man-made agenda.'' Taylor said her neighbors also were aware that Spilsbury (along with the entire council) voted to increase utility rates. 'She's OK to spend our money when we're already in debt,' Taylor said of the embattled councilwoman. 'She's OK for standing on platforms that the Republican Party traditionally does not support. 'You can do whatever you want to do in the privacy of your own home, but to allow males into female public restrooms and locker rooms and vice versa endangers not only young children and people that are maybe more vulnerable. It also puts liability on the City of Mesa.' The council in 2021 on a split vote approved an ordinance prohibiting discrimination in the city against protected groups like race, sex, age, ethnicity and gender identity. State Sen. Anthony Kern, R-Glendale, who also showed up, said he supported recalling Spilsbury because she 'was dishonest to her voters,' namely for supporting a homeless shelter in her council district and approving the non-discrimination ordinance. 'They would not have elected her,' Kern claimed. 'So you want honesty in front of the voters. We want to let the voters know who you are and what you believe, and then let the voters decide on whether or not they're going to cast their vote for you. So she was dishonest to the voters.' Kern also pointed to Spilsbury being part of a coalition of Republicans who endorsed the Harris-Walz ticket, calling it 'disingenuous to the voters.' Kern was endorsed by President Trump in 2022 for his current seat. 'We have thousands and thousands of signatures,' said Matthew Martinez, who was pointed out as the spokesman for the people gathered outside City Hall. 'So many people in Mesa are ready to recall Julie Spilsbury. 'The citizens of Mesa had no idea about her voting record, also that she's been campaigning for Democratic candidates. People are fired up. They don't like when someone is claiming she's a Republican but endorsing all these Democrats and campaigning as a Republican. And with all of her nasty voting record, too.' Martinez, who grew up in east Mesa and now lives in Phoenix, said he got involved with the recall because Mesa is his hometown and his parents still live there. He insisted the recall was a grassroots effort with students, teachers and moms who went out and gathered signatures for the petition because 'they're disappointed, they're let down by Julie.' According to his LinkedIn account, Martinez is a field strategist with Chase the Vote, Turning Point Action, which targets and brings out the conservative voting base in elections. Martinez, like the others, also pointed to the city ordinance that he says allows transgender women to use women's bathrooms and locker rooms. 'So when she votes like that, it gets everybody involved,' Martinez said. Spilsbury rebuttal Spilsbury said she is a proud member of the Republican Party and have been registered as such her entire adult life. 'I want my party to succeed but reserve the right to disagree with those in my party,' she said. 'That is America. Those filing the recall petitions against me did not list as a reason for their efforts my position on a partisan political race. 'The truth is that my loyalty to the City of Mesa and all its residents will always outweigh any allegiance to a political party, social group, church or any other organization or group.' She pointed out that the council seat is nonpartisan and that her duty is to serve all residents in the city without regard to political affiliation or position. 'The issues we deal with, police, fire, roads, water, etc. are neither Republican nor Democrat,' Spilsbury noted. 'They are issues that affect all Mesa residents without regard to political philosophy.' She also called out the critics of the city's non-discrimination ordinance. 'This type of political mis-speak would make George Orwell proud,' Spilsbury said. 'I voted to approve an ordinance that respects the rights of all community members under the law while protecting our religious liberties of conscience. Nothing more. Nothing less. 'Opponents forecast Armageddon-level upheaval if the law passed. However, nothing of the sort has happened. In the four years since the ordinance became law, there has not been a single instance or issue raised under it with the city. None.' Spilsbury also addressed the homeless shelter. 'Once again, this is a gross misrepresentation,' she said. 'Nearly every issue before the Mesa City Council draws support and opposition from residents, who are often passionate. The homeless shelter vote was no exception. 'Homelessness is a serious issue in our city, and we are constantly working to find solutions to manage it. Ignoring the homeless in our community will not make the problem disappear. "A necessary part of the solution is providing emergency sheltering for female adult homeless Mesa residents who are victims of domestic violence, their children, families and veterans. That is what this shelter provides.' She said that after she studied the issue in depth, she supported the action to purchase and convert the former hotel. 'I believe it makes Mesa safer and serves the most vulnerable members of our community,' she said. Among the recall supporters who helped deliver the petitions to the City Clerk were, from left, Matthew Martinez, Dorean Taylor, Antonnette Andruzzi and JoAnne Robbins. Outsiders slammed Proving her point that the recall is being spurred by an outside group, Spilsbury said that 'the signature gathering effort for this recall has been directed and paid for by Turning Point USA, a special interest organization who is active in partisan politics.' The flyer included a disclaimer that it's paid for by 'Turning Point PAC with 100% of contributions coming from out of state contributors,' according to Spilsbury. 'I have no intention of cowering to an organization who is funded 100% by out-of-state donors,' she said. 'Last July, the same people who now oppose me ran a hand-picked candidate against me in the city election. They had their chance to make their case with voters at that time. I won the election in a landslide. 'The losers of that election do not respect the will of the voters, and they are simply trying to undo the results of the election they lost, and have brought in a big-money partner in who is funded 100% by contributions not only from outside of Mesa, but from outside of Arizona. 'Their disrespect of our election process is disappointing, but unfortunately not surprising' Also, in February, a social media post offered to pay people to gather signatures on the recall petitions – $200 for 100 valid signatures. The contact person was Merissa Hamilton, a one-time Phoenix mayoral candidate and activist with ties to ultra-conservative groups. Anticipating that she might have to face a recall, Spilsbury in February reached out to her constituents asking for them to call her with any concerns before signing the petition. She also in March asked her supporters – over 400 names from her previous two elections – if they still backed her and if so to let her know so she could add them to a list on her campaign webpage. Also in March, the Mesa Chamber of Commerce's Good Government Committee issued a message on social media in support of Spilsbury, saying the chamber has been proud to endorse her twice. 'Councilmember Spilsbury is currently facing the prospect of a recall petition and election,' the state read. 'This effort is not supported by the Mesa Chamber or the business community at-large. "Throughout her tenure, Councilmember Spilsbury has displayed professional conduct and voted time and time again with the Mesa business community on issues before the Mesa City Council. 'Recall is not something to be taken lightly. The only basis for a recall should be professional malfeasance or misconduct while in office. Neither has yet to be identified by any of the Spilsbury recall petitioners. Councilmember Spilsbury deserves thanks from and the support of the Mesa business community instead. 'To be clear, the Mesa Chamber of Commerce does not support the recall of Julie Spilsbury and encourages the Mesa community to do the same.'
Hindustan Times
a day ago
- Business
- Hindustan Times
India, UK focus on enhancing cooperation in trade, defence, counter-terrorism
NEW DELHI: India and the UK on Tuesday discussed ways to strengthen cooperation in trade, investment, defence, counter-terrorism, green energy and health and focused on measures to address export controls for enabling greater technology cooperation in strategic sectors. In addition to holding the annual foreign office consultations in New Delhi, foreign secretary Vikram Misri and Britain's permanent under-secretary Oliver Robbins co-chaired the first Strategic Exports and Technology Cooperation Dialogue. During the foreign office consultations, the two sides reviewed and discussed the gamut of bilateral relations. They also welcomed the conclusion of the India-UK free trade agreement and double contribution convention last month, the external affairs ministry said in a statement. Misri and Robbins discussed ways to strengthen cooperation in trade, investment, financial sector, defence and security, counter-terrorism, technology, science, innovation, green energy, climate, health, education and people-to-people relations in order to diversify the bilateral comprehensive strategic partnership, the statement said. The first Strategic Exports and Technology Cooperation Dialogue focused on 'addressing export controls for enabling greater technology cooperation in strategic sectors'. This dialogue is aimed at building mutual understanding of systems and agreeing on areas for future cooperation in key sectors such as technology and defence. Misri conveyed India's appreciation for the British government's 'expression of solidarity and support to India in the fight against terrorism'. Misri and Robbins also exchanged views on regional and global issues, including the Russia-Ukraine conflict and the situation in West Asia and the Indo-Pacific. A readout from the British high commission said the two sides welcomed the 'significant breakthroughs' in the bilateral partnership since last year's foreign office consultations, including the announcement of the trade deal on May 6, which will strengthen trade links and increase bilateral trade already worth £43 billion by another £25.5 billion. 'Both agreed to work towards implementing the shared vision of the two prime ministers for an ambitious partnership between the UK and India over the next decade,' the readout said. Robbins said he is visiting India to 'help advance one of the UK's most vital partnerships in the world'. He added, 'In a more complex world, there is strong ambition from both governments to take this partnership to even greater heights.' During the visit, he is expected to meet a range of Indian officials, including on the G20 and home affairs. Both sides agreed to hold the next foreign office consultations in London in 2026.
Miami Herald
2 days ago
- Business
- Miami Herald
Tony Robbins unveils strong new message to make Americans rich
Tony Robbins, the bestselling author and motivational speaker, announced on June 3 a new venture that he says will spread behind-the-scenes investing knowledge to the masses. The new podcast, named after Robbins' bestselling book, "The Holy Grail of Investing," is now available for public consumption. Don't miss .the move: Subscribe to TheStreet's free daily newsletter "The 'Holy Grail of Investing' podcast is about more than just investing - it's about giving listeners a front-row seat to how some of the world's greatest investors think," Robbins said. "These conversations usually happen behind closed doors, and now we are making them available to a much broader audience - even those just starting to explore private market opportunities." The new broadcast endeavors to explain some key investing strategies for financial success, including a secure future that involving a comfortable retirement. Related: Dave Ramsey sounds alarm for Americans on Medicare Robbins' podcast will include discussions with some major players in the investment community. "The podcast features in-depth conversations with some of the world's most successful investors, who were featured in the book - professionals who have delivered outsized returns in private equity, private credit, private real estate, and venture capital for decades on end," Robbins said in a statement. Robbins said that Christopher Zook, a prominent business writer and chairman of CAZ Investments, will be joining him to discuss current financial events and investment opportunities. Zook has been listed by The Times of London as one of the world's top 50 investors. More on retirement: Dave Ramsey sounds alarm for Americans on Social SecurityScott Galloway warns Americans on 401(k), US economy threatShark Tank's Kevin O'Leary has message on Social Security, 401(k)s In a statement, the podcast suggests it will emphasize an approach that will differentiate itself from others, particularly concerning its guests. "Rather than focusing on technical investment mechanics, Robbins and Zook explore the why," the statement reads. "Why each guest chose their specific area of focus, how they identified major market trends, and what drives their long-term vision across key sectors of the private markets." Related: Shark Tank's Kevin O'Leary sends strong message on Social Security Robbins explains the objective of the new podcast in this way: Robbins is well-known as a motivational speaker, author, and life coach. He gained prominence through his self-help books, seminars, and coaching programs. Robbins began his career promoting seminars for Jim Rohn, later developing his own strategies for personal development. His books, including "Unlimited Power" and "Awaken the Giant Within," emphasize mindset shifts, financial literacy, and goal-setting techniques. Robbins notably encourages people to overcome fears and find ways to build confidence. His influence extends beyond personal development into business coaching, with leaders and entrepreneurs seeking his guidance. He has also been involved in philanthropy, supporting initiatives to combat hunger and improve education. "The only impossible journey is the one you never begin," Robbins has said. "The Holy Grail of Investing" podcast will be available on YouTube, Spotify, Apple Podcasts, and all major platforms, with new episodes launching bi-weekly beginning June 3. Related: Tony Robbins sends strong message on Social Security, 401(k)s The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
Chicago Tribune
4 days ago
- Sport
- Chicago Tribune
Freshman Macie Robbins takes another big step in pitching Providence past Marian Catholic. ‘She's a special one.'
When freshman pitcher Macie Robbins showed up to softball tryouts, Providence coach Jim Holba already knew who she was. And then he was impressed even more. When she actually tried out, without Robbins even pitching an inning on the high school level, Holba told her, 'In my 15 years of being a head coach, you're the best pitcher I've ever had.' Placing her on varsity was an easy decision, but he wanted to be smart about how to use her. 'At the beginning of the year, I told her, 'I'm going to baby you like you are a freshman,'' Holba said of Robbins. ''But I'm not going to waste you and I'm not going to try to overuse you.' 'She's a special one.' Robbins put on another special performance Saturday, striking out nine and adding a double in the host Celtics' 2-1 win over Marian Catholic in the Class 3A Providence Regional final in New Lenox. Ella Kucala scored on a three-base error hit off the bat of Angelina Cole and Cole came home on a single by Ava Misch in the third inning for Providence (22-11). That's all Robbins needed. Abby Gustavson and Kendyl Rainey each had two hits for Marian (11-16). Gracie Jensen drove in Rainey in the sixth inning for the Spartans' lone run. Robbins gave up a leadoff single to Gustavson in the top of the seventh but saved the best for last, striking out the side to give the Celtics their eighth regional title and second in a row. 'I obviously didn't want to leave anything down the middle but I was pretty much attacking,' Robbins said of her strategy. 'And it was a matter of knowing what I did against those batters.' Robbins was quick to credit her defense, and the Celtics came through in a big way in the third. Cole, a junior center fielder, caught a deep fly and fired a strike to freshman shortstop Aleigh Hill. She then relayed to sophomore third baseman Olivia Vittori, who tagged out Marian's runner to end the inning. 'After I threw the ball, there was excitement,' Cole said. 'I was like, 'Oh, Aleigh, turn it.'' Cole called it a great play. To Hill, it was all about teamwork. 'It was communication,' Hill said. 'You have to make sure your outfielders hear you, and Angie made a real good throw. I was able to throw to Liv, who made a real good tag. 'We always practice that, especially in pregame. We always get our cuts down. It's good to practice that, especially when it happens in a game like this.' It helped Providence advance to a 4:30 p.m. game Tuesday in the Ottawa Sectional semifinals against Tinley Park (20-12). That outing will give Robbins (19-4) a chance to reach 20 wins this season. She has 199 strikeouts in 137 innings with a 1.53 ERA. Robbins, who turned 15 on Friday, started playing softball at age 5. She said she was 'decent' when she began playing, but as the years went on, she took to travel ball and got better. She praised pitching coach Jonathan Hon for getting her ready for high school. 'I see him every week on Thursday nights at 9 p.m.,' Robbins said of Hon. 'He has taught me how to use my body and not to use and waste momentum. That's why I don't backswing or anything.' During the regular season, Robbins notched signature wins over Lockport and Loyola, but a regional championship victory over Marian turns out to be another big test she passed. She loves softball because of the pressure situations. 'Honestly, I love moments like these,' Robbins said. 'It's the big moments. They definitely test you and your mentality. I think it's rewarding when you get it done.'
