Cisco Forecast Upgrade Driven by AI Networking Demand

2 months ago

"Onto the network equipment giant Cisco Systems, boosting the forecast, showing progress in their effort to capture more air spending. The company, this is the top maker machines that run computer networks of the Internet. They now expect sales of as much as $61 billion in the fiscal year. That ends well in July. That's about a billion more than they previously expected, higher than Wall Street estimates are. Cisco also increasing its earnings forecast, which again topped analysts predictions. The CEO there, Chuck Robbins, says the need for secure networking in A.I. is helping fuel demand."

Cisco is benefiting from improved forecasts and a boosted earnings outlook, driven by demand for secure networking in the AI space. The updated sales expectations and earnings forecast, which beat prior estimates, suggest a positive trend for the company over the current fiscal year.

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