Cisco Systems Ups Forecast Driven by AI Demand

2 months ago

Tom Keane with Paul Sweeney and John Tucker

"On to the network equipment giants. Cisco systems boosting the forecast uh showing progress in their effort to capture more AI spending. The company this is the top maker machines that run computer networks and the internet. They now expect sales of as much as $61 billion in the fiscal year that ends what? In July. Uh that's about a billion more than they previously expected, higher than Wall Street estimates. But Cisco also increasing its earnings forecast which uh again topped analyst predictions. The uh CEO there Chuck Robbins says the need for secured networking in AI is helping fuel demand."

The speakers discuss Cisco's upward revision in sales and earnings forecasts, attributing the boost to increased AI spending and the growing need for secure networking. This commentary underlines Cisco's strong positioning in an evolving tech landscape.

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