US EditionCisco beats on earnings and guidance, lifting stock
Cisco's networking sales rose 15% driven by AI-focused data center demand, prompting an increased full-year revenue forecast to up to $61 billion.
- On Wednesday, Cisco Systems Inc reported fiscal first-quarter revenue of $14.88 billion and adjusted EPS of $1.00, beating estimates of $14.77 billion and 98 cents.
- Demand from AI-focused data centers, largely powered by Nvidia GPUs, lifted product sales, with Networking up 15% and Observability rising 6%.
- The company returned capital via repurchases and finished the quarter with $15.7 billion in cash, repurchasing 29 million shares for $2 billion while net income rose to $2.86 billion.
- The guidance lift sent shares higher in after-hours trading, with Cisco Systems Inc raising full-year fiscal 2026 revenue guidance to $60 billion to $61 billion and EPS to $4.08–$4.14, while declaring a 41-cent quarterly dividend.
- Cisco sees Q2 revenue of $15 billion to $15.2 billion and raised near-term EPS expectations, with CEO Chuck Robbins stating 'We had a solid start to fiscal 2026.
46 Articles
46 Articles
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Cisco’s stock climbs as AI networking demand drives earnings beat
Surging demand for Cisco’s AI networking equipment and a ‘multi-billion-dollar’ refresh in its legacy business sparked upbeat results and guidance. Article Attribution | Read More at Article Source The post Cisco’s stock climbs as AI networking demand drives earnings beat appeared first on RocketNews.
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