Cisco predicts 9% to 11% revenue drop, compared to last year’s first fiscal quarter. Analysts expected an average dip of about 7%. Adjusted profit will be 69% to 71% a share, lower than WSJ expectations of 76%. CEO Chuck Robins plans to reduce Cisco’s reliance on expensive proprietary hardware that suffered a 16% dip in sales. Expense reduction plan includes job cuts, an early retirement plan for some workers with $900M budget for severance and termination benefits.
The WSJ discovered that TikTok was stealing users’ MAC addresses for 18 months, violating app stores’ policies. MAC addresses are unique device identifiers that can be used for ad targeting and another invasive tracking. Both Apple and Google, since 2015, barred apps from collecting MAC addresses. TikTok stopped this practice last year in November. In response to this latest report, TikTok has said: “the current version of TikTok does not collect MAC addresses.”
Twitter has had preliminary discussions about a “combination” with TikTok, the WSJ reported. So far, only Microsoft has publicized its plan to acquire TikTok before Sept 15. Twitter may be the latest possible suitor for TikTok. However, its bid for TikTok is a long-shot, considering the strong opponent – Microsoft – in line. Furthermore, it may not be able to afford TikTok because of its high price. Neither TikTok nor Twitter has commented on these reports.