"“The companies that will win in the AI era will be those with focus, urgency, and the discipline to continuously shift investment toward the areas where demand and long-term value creation are strongest,” Cisco CEO Chuck Robbins told employees in a publicly shared email. “I'm confident Cisco will be one of those winners. This means making hard decisions-about where we invest, how we're organized, and how our cost structure reflects the opportunity in front of us.”"
"Robbins emphasized that the company will further invest in employees' AI use throughout their jobs. Meanwhile, employees will start getting notifications if they've been laid off on Thursday. Cisco says the job cuts make up less than 5% of its total workforce. Shares of Cisco Systems Inc. (Nasdaq: CSCO) were up more than 16% on Thursday morning. The stock had already been trading at record highs this month."
"Cisco reported $15.8 billion in revenue for the quarter ending on April 25. That figure represents a 12% jump year-over-year (YOY) and beats Wall Street's predicted $15.56 billion, according to consensus estimates cited by CNBC. The company also surpassed expectations of $1.04 earnings per share with $1.06 adjusted. In a post-earnings call, Robbins highlighted AI-centric business with companies like Nexus and Nvidia, as well as a significant increase in revenue from AI."
"For instance, this quarter, Cisco shared plans to expand its secure AI factory with Nvidia. Cisco's product r"
Cisco reported $15.8 billion in revenue for the quarter ending April 25, a 12% year-over-year increase that exceeded consensus estimates. Adjusted earnings per share came in at $1.06, surpassing expectations of $1.04. The company announced nearly 4,000 job cuts, representing less than 5% of its total workforce, and said the reductions stem from AI adoption rather than poor performance. Cisco CEO Chuck Robbins said winning in the AI era requires focus, urgency, and disciplined investment shifts toward areas with demand and long-term value. Cisco also plans to invest further in employees’ AI use and expand its secure AI factory with Nvidia, citing increased AI-related revenue.
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