Cisco Shares Rise On Earnings

It's Benzinga, bringing Wall Street to Main Street. Cisco shares rose in extended trading Thursday after the company reported fiscal first quarter earnings and revenue that exceeded Wall Street expectations, according to CNBC. Adjusted earnings reached $1.40 per share on revenue of $18.5 billion, up 24% from a year earlier. Analysts expected $1.33 per share on revenue of $18.1 billion. Cisco raised its fiscal year AI infrastructure revenue forecast from hyperscalers to $9 billion, more than double fiscal 2026. The company also issued second quarter guidance above analyst estimates. Cisco expects revenue between $18 billion and $18.2 billion and adjusted earnings of $1.34 to $1.36 per share. Cisco shares have gained about 35% this year, compared with the Nasdaq's 9% increase. For all things money, visit Benzinga.com.