Close
  • Latest News
  • Artificial Intelligence
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Logo
Logo
  • Latest News
  • Artificial Intelligence
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Home Latest News

      The Buzz: May 13, 2002

      By
      eWEEK EDITORS
      -
      May 13, 2002
      Share
      Facebook
      Twitter
      Linkedin

        Good Week for Cisco, Industry

        Cisco announced last week that net sales for its third fiscal quarter were $4.8 billion, up from $4.7 billion in the same quarter a year earlier and the same as the second quarter of fiscal 2002.

        Net income followed a similar trend: The networking company earned $729 million in the quarter ended April 27, or 10 cents a share.

        The news was in sharp contrast to the companys year-ago report in which Cisco posted a third-quarter loss of $2.7 billion.

        The report gave Wall Street a much-needed shot in the arm, pushing the tech-heavy NASDAQ up 7.8 percent and the Dow up 3.1 percent a day after the news was announced.

        “The old Internet economy tended to focus on speed,” said Cisco Chairman and CEO John Chambers at NetWorld+Interop last week. “Today, its about profits.”

        Ah, the difference a year can make.

        As a point of reference, Joseph Panettieri, former ZD columnist and editor in chief of Smart Partner, predicted in August 2001 that May 8, 2002, would be the date to watch for any sort of tech rebound because of Ciscos expected third-quarter results.

        California, Oracle Dispute Software

        Oracle has agreed to rescind a $95 million software contract with California, but the company is not going quietly.

        Last week, the state agreed to an offer from Oracle and reseller Logicon to take the deal off the table, but Oracle warned state officials that doing so could have a negative ripple effect. In particular, almost 50 state and local agencies have begun using software from the contract, which was signed a year ago. The software used by the agencies was bought under discounts outlined in the contract.

        “If the state elects to withdraw from this contract, these savings will be lost,” according to Oracle Chief Financial Officer Jeff Henley, who cited a report by Californias state auditor that the state could save up to $163 million over the next 10 years due to the contract.

        eWEEK EDITORS
        eWeek editors publish top thought leaders and leading experts in emerging technology across a wide variety of Enterprise B2B sectors. Our focus is providing actionable information for today’s technology decision makers.
        Get the Free Newsletter!
        Subscribe to Daily Tech Insider for top news, trends & analysis
        This email address is invalid.
        Get the Free Newsletter!
        Subscribe to Daily Tech Insider for top news, trends & analysis
        This email address is invalid.

        MOST POPULAR ARTICLES

        Latest News

        Zeus Kerravala on Networking: Multicloud, 5G, and...

        James Maguire - December 16, 2022 0
        I spoke with Zeus Kerravala, industry analyst at ZK Research, about the rapid changes in enterprise networking, as tech advances and digital transformation prompt...
        Read more
        Applications

        Datadog President Amit Agarwal on Trends in...

        James Maguire - November 11, 2022 0
        I spoke with Amit Agarwal, President of Datadog, about infrastructure observability, from current trends to key challenges to the future of this rapidly growing...
        Read more
        IT Management

        Intuit’s Nhung Ho on AI for the...

        James Maguire - May 13, 2022 0
        I spoke with Nhung Ho, Vice President of AI at Intuit, about adoption of AI in the small and medium-sized business market, and how...
        Read more
        Applications

        Kyndryl’s Nicolas Sekkaki on Handling AI and...

        James Maguire - November 9, 2022 0
        I spoke with Nicolas Sekkaki, Group Practice Leader for Applications, Data and AI at Kyndryl, about how companies can boost both their AI and...
        Read more
        Cloud

        IGEL CEO Jed Ayres on Edge and...

        James Maguire - June 14, 2022 0
        I spoke with Jed Ayres, CEO of IGEL, about the endpoint sector, and an open source OS for the cloud; we also spoke about...
        Read more
        Logo

        eWeek has the latest technology news and analysis, buying guides, and product reviews for IT professionals and technology buyers. The site’s focus is on innovative solutions and covering in-depth technical content. eWeek stays on the cutting edge of technology news and IT trends through interviews and expert analysis. Gain insight from top innovators and thought leaders in the fields of IT, business, enterprise software, startups, and more.

        Facebook
        Linkedin
        RSS
        Twitter
        Youtube

        Advertisers

        Advertise with TechnologyAdvice on eWeek and our other IT-focused platforms.

        Advertise with Us

        Menu

        • About eWeek
        • Subscribe to our Newsletter
        • Latest News

        Our Brands

        • Privacy Policy
        • Terms
        • About
        • Contact
        • Advertise
        • Sitemap
        • California – Do Not Sell My Information

        Property of TechnologyAdvice.
        © 2022 TechnologyAdvice. All Rights Reserved

        Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.

        ×