GoKawiilCisco tops Wall Street estimates, doubles AI infrastructure revenue outlook
Cisco reported fiscal first-quarter adjusted earnings of $1.40 per share on $18.5 billion in revenue, both above analyst expectations, with revenue up 24% year-over-year and net income rising to $4.6 billion. The company raised its forecast for AI infrastructure revenue from hyperscale customers to $9 billion for the fiscal year, more than double last year's figure, and issued second-quarter guidance ahead of consensus.
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The upgraded AI revenue forecast suggests Cisco is finding traction with data-center customers after largely sitting out the early stages of the generative AI buildout. Shares have already outpaced the Nasdaq this year, and continued beats on both earnings and forward guidance could reinforce investor confidence that Cisco's networking gear is becoming essential to AI infrastructure spending.
- Cisco beat both earnings and revenue estimates, with EPS of $1.40 versus $1.33 expected.
- AI infrastructure revenue guidance from hyperscalers was raised to $9 billion, more than double the prior fiscal year.
- Cisco's stock is up about 35% this year, far outperforming the Nasdaq's 9% gain.
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Published there as: “Cisco beats on earnings, says AI infrastructure revenue will double this fiscal year”
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