Cisco shares rose in extended trading on Thursday after the maker of networking gear reported better-than-expected fiscal first-quarter results.
Here's how the company did compared to LSEG consensus estimates:
Revenue increased 24% from $14.88 billion a year earlier, Cisco said in a statement. Net income rose to $4.6 billion, or $1.14 per share, from $2.9 billion, or 72 center per share, a year ago.
Cisco is trying to gain a foothold in the artificial intelligence buildout after missing out on the early years of the generative AI boom. The company's stock price is up about 35% this year as of Thursday's close, trouncing the Nasdaq, which has gained 9% over that stretch.
Cisco raised its expectation for AI infrastructure revenue from hyperscalers to $9 billion this fiscal year, more than double the figure in fiscal 2026.
"Organizations are turning to Cisco for our trusted, market-defining technology and our expertise to help them scale, secure and optimize their environments for the agentic AI era," CEO Chuck Robbins said in the statement .
For the fiscal second quarter, Cisco said it expects revenue of between $18 billion and $18.2 billion, topping the average analyst estimate of $17.88 billion, according to LSEG. The company is projecting adjusted earnings per share of $1.34 to $1.36, beating the $1.23 average estimate.
