Cisco revenue jumps 24% to record $18.5B on AI networking demand
Cisco Systems reported record revenue of $18.5 billion for the first quarter of fiscal 2027, up 24% from a year earlier, as AI networking equipment demand surged.
The networking giant raised its fiscal 2027 revenue outlook to as much as $75.8 billion as demand for AI infrastructure continues to accelerate. Cisco posted adjusted earnings of $1.40 per share, exceeding analysts' expectations of approximately $1.33, while revenue surpassed estimates of $18.1 billion.
Networking Surge
Networking revenue surged 43% to $11.1 billion, supported by increased spending on data center infrastructure and connectivity equipment. Total product orders rose 32% from a year earlier, reflecting growing demand for AI networking solutions.
AI Infrastructure Orders
Cisco secured $9 billion in AI infrastructure orders for fiscal 2027, more than double the comparable figure from the previous year. The results reflect growing spending by hyperscalers and enterprises on networking equipment used to connect AI accelerators, servers and data centers.
Full Year Outlook
The company raised its full year fiscal 2027 revenue forecast to between $74.8 billion and $75.8 billion, up from its previous projection of $72.2 billion to $73.4 billion. Cisco now expects adjusted earnings per share of $5.47 to $5.53 for the fiscal year, compared with its earlier forecast of $5.05 to $5.11.
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