Reported 10 days ago
Cisco Systems has raised its quarterly revenue and profit forecasts following strong first-quarter results driven by increasing demand for networking gear amid the AI boom. Despite a slight drop in stock prices after the announcement, the company is optimistic, projecting annual revenue between $55.3 billion and $56.3 billion, slightly higher than previous estimates. Cisco is shifting focus to AI-driven products and cybersecurity, following strategic layoffs and a major acquisition of Splunk aimed at enhancing its software capabilities.
Source: YAHOO