Cisco beats estimates and lifts annual revenue forecast
In short
Cisco reported $18.5 billion in revenue and adjusted profit of $1.40 per share for the first quarter. It beat Wall Street estimates and raised its annual revenue forecast because demand for AI infrastructure stayed strong.
This matters for Cisco investors and for the market watching AI-related spending.
What the reporting says
Cisco reported $18.5 billion in revenue and adjusted profit of $1.40 per share for the first quarter, beating Wall Street estimates on strong AI infrastructure demand. The company also raised its annual revenue forecast, according to CNBC TV18 Market's summary. The results point to stronger demand tied to AI networking equipment and improved outlook for the year.
Why it matters
Cisco's first-quarter results showed $18.5 billion in revenue and adjusted profit of $1.40 per share, both above Wall Street estimates. The company lifted its annual revenue forecast on the back of strong AI infrastructure demand. The move matters for Cisco investors and for markets tracking spending on AI networking equipment and related technology infrastructure.