In this week's top stories, Cisco beat third-quarter expectations, reporting a revenue of $11.5 billion. That number is down 5.5 percent from the same time last year, but the drop was not as drastic as naysayers predicted.
Cisco has reported a year-over-year profit drop for the past three quarters. On the bright side, Cisco’s U.S. Enterprise and Commercial businesses both grew more than 10 percent. Cisco shares jumped 7 percent in after-hours trading following the announcement.
Microsoft could debut a new Surface 3, powered by an Intel processor, at its event next week. Microsoft already plans to show off a new smaller version of the Surface at the May 20 event, but an article published this week mentioned support for a Surface Pro 3 camera.
As Apple reportedly closes in on a Beats Electronics acquisition, partners are buzzing about the possibility of a new line of Apple wearables.
Many partners believe Apple, who is looking to buy Beats for about $3.2 billion, is attracted to the company's strong distribution system. Beats has more than 200 retail partners, including Macy's and Nordstrom. Partners say the distribution channel is ideal for a product like an iWatch. The deal would be the most expensive in Apple's history.
PUBLISHED MAY 16, 2014