Daily Tech Snippet: Thursday, May 18

• Cisco revenue forecast disappoints; says to cut 1,100 more jobs: Cisco forecast current-quarter revenue that widely missed analysts' estimates and said it would cut 1,100 more jobs, as the world's largest networking gear maker steps up efforts to transform into a software-focused company. Shares of the Dow component fell 8.2 percent to $31.05 in after-market trading on Wednesday. The stock had closed down 1.4 percent in regular trading, compared with the 1.78 percent slump in the index. Revenue in its closely-watched security business, which offers firewall protection and breach detection systems, rose 9 percent to $527 million, but missed analysts' estimate of $545.5 million, according to financial data and analytics firm FactSet Street Account. Cisco, like other legacy technology players, is shifting its focus to high-growth areas such as security, the Internet of Things and cloud computing, amid intense competition from companies such as Huawei and Juniper. The company's net income rose to $2.52 billion, or 50 cents per share, in the third quarter ended April 29 from $2.35 billion, or 46 cents per share, a year earlier. Revenue fell 0.5 percent to $11.94 billion.

• Square Will Replace Meters in Washington Taxis: Washington, D.C., is enlisting Square Inc.’s help as its taxi commission tries to help the city’s cabbies compete with Uber drivers. By the end of August, all of the taxis in Washington have to tear out their traditional meters and start using smartphones or tablets, in what the city government has been describing as a complete reimagining of how the cab system works. For Square, the deal reflects an increasing focus on becoming the payment platform for a range of other company's mobile applications, websites and point-of-sale devices. No money is changing hands between the company and the city. Square agreed to satisfy the department’s requirement that drivers give up no more than 2.65 percent of their fares in transaction fees, according to the department. That’s lower than the standard 2.75 commission it usually takes and significantly less than the 3.5 percent to 5 percent commission that drivers currently pay to use the mechanical meters, according to Ernest Chrappah, the director of the city's taxi regulator.  Chrappah said the lower fees will help make it easier for cabbies to sustain themselves. But the bigger changes come in the increased flexibility that taxi drivers will have once they’re untethered from mechanical meters. There won’t be a single taxi app. Instead, the department is asking developers to build apps, which it will then certify for use by licensed taxi drivers. It is currently working with seven developers, who will make their apps public between now the deadline to replace the meters. It will continue to consider adding new apps as developers pitch them. All of the certified apps must be able to operate as meters for street hails. They’ll also be able to provide digital receipts showing the route they took and give riders the option to rate drivers. Developers can also build services like carpooling or delivery systems that will connect drivers to local merchants looking for people to drop off food, groceries or other products. A developer could build an Uber clone, creating a way to connect drivers to passengers requesting rides through an app. The exact contours of these services will become clear as the individual developers release their software. Taxis will also be able to offer dynamic pricing, where drivers can give discounts during periods when they have trouble securing fares. This resembles Uber’s practice of charging more when demand rises as a way to coax drivers onto the road, only in reverse. Drivers won’t have the option to increase their fares.