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Cisco reported a fourth quarter of declining revenue, although earnings beat analyst expectations. Cisco's adjusted earnings per share and revenue both exceeded analyst expectations. CEO Chuck Robbins noted a strong demand for AI infrastructure, with AI orders exceeding $300 million in the quarter. Cisco aims to earn $1 billion in AI orders this fiscal year, leveraging partnerships with Nvidia and other GPU providers. Cisco also adjusted its full-year guidance, which was up from prior estimates. Cisco's stock has risen 17% year-to-date and dropped over 2% in extended trading.
Transcript
00:00It's Benzinga bringing Wall Street to Main Street.
00:02Cisco reported a fourth consecutive quarter of declining revenue,
00:05although earnings beat analysts' expectations.
00:08Cisco's adjusted earnings per share and revenue both exceeded analysts' expectations.
00:13CEO Chuck Robbins noted a strong demand for AI infrastructure,
00:16with AI orders exceeding $300 million in the quarter.
00:20Cisco aims to earn $1 billion in AI orders this fiscal year,
00:24leveraging partnerships with NVIDIA and other GPU providers.
00:28Cisco also adjusted its full-year guidance, which was up from prior estimates.
00:32Cisco's stock has risen 17% in year-to-date and dropped over 2% in extended trading.

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