From Futuriom · · 1m 10s
Cisco Boosts AI Revenue Forecast Amid Stock Dip
Cisco raises AI infrastructure revenue target to $9 billion as stock falls on NVIDIA turmoil.
In brief
Cisco raises AI infrastructure revenue target to $9 billion as stock falls on NVIDIA turmoil. Cisco increased its fiscal 2027 AI infrastructure revenue forecast to $9 billion from $7.5 billion, but shares dropped 5% due to NVIDIA leadership changes. Originally reported by Futuriom.
Cisco Q1 2027 Results
Cisco reported $18.5 billion revenue, up 24% year-over-year, beating Wall Street's $18.1 billion estimate.
Strong Earnings Growth
Non-GAAP earnings per share rose to $1.40, a 40% year-over-year increase, exceeding analyst expectations.
CEO Statement
Cisco CEO Chuck Robbins called Q1 growth the strongest in over 15 years for the company.
Stock Price Drop
Cisco shares fell 5% in morning trading amid concerns over NVIDIA's leadership changes.
AI Revenue Target Raised
Cisco increased its fiscal 2027 AI infrastructure revenue forecast to $9 billion from $7.5 billion.
Hyperscaler Growth
Hyperscalers now account for 12% of Cisco's total revenue, up from 6% last year.
Networking Refresh Cycle
Cisco's networking segment grew 43% year-over-year with AI infrastructure driving triple-digit growth.
The main idea
Cisco increased its fiscal 2027 AI infrastructure revenue forecast to $9 billion from $7.5 billion, but shares dropped 5% due to NVIDIA leadership changes.
