Cisco reported stronger-than-expected fiscal first-quarter results, sending its shares higher in extended trading. The networking gear maker beat earnings and revenue estimates, with adjusted earnings per share of $1.40 compared to the expected $1.33, and revenue of $18.5 billion versus the forecasted $18.1 billion. Revenue grew 24% from the previous year, while net income rose to $4.6 billion from $2.9 billion.
The company is making strides in the artificial intelligence sector, raising its expectation for AI infrastructure revenue from hyperscalers to $9 billion this fiscal year, more than double the figure from fiscal 2026. CEO Chuck Robbins highlighted Cisco's role in helping organizations scale and secure their environments for the agentic AI era.
Looking ahead, Cisco projected fiscal second-quarter revenue between $18 billion and $18.2 billion, surpassing the average analyst estimate of $17.88 billion. The company also expects adjusted earnings per share of $1.34 to $1.36, beating the $1.23 average estimate. Cisco's stock price has surged about 35% this year, significantly outperforming the Nasdaq's 9% gain.