Cisco Beats on $18.5 Billion Revenue, Lifts AI Infrastructure Target to $9 Billion
Updated
Updated · CNBC · Nov 12
Cisco Beats on $18.5 Billion Revenue, Lifts AI Infrastructure Target to $9 Billion
3 articles · Updated · CNBC · Nov 12
Summary
$18.5 billion in fiscal first-quarter revenue and $1.40 adjusted EPS topped LSEG estimates, sending Cisco shares higher in extended trading.
Revenue jumped 24% from a year earlier and net income rose to $4.6 billion, as Cisco pushed deeper into AI networking after lagging the early generative AI boom.
$9 billion is Cisco's new fiscal-year target for AI infrastructure revenue from hyperscalers, more than double fiscal 2026 levels.
$18 billion to $18.2 billion in second-quarter revenue and $1.34 to $1.36 in adjusted EPS also beat analyst forecasts, reinforcing a stock already up about 35% this year.