"Shares of Cisco (NASDAQ: CSCO) are up about $4.90 in premarket after the tech giant beat earnings, raised guidance, and saw $1.3 billion in AI orders. EPS of $1 was two cents better than estimates. Revenue of $14.88 billion was above estimates of $14.77 billion. Cisco said that AI infrastructure orders from "hyperscaler customers" reached $1.3 billion, "reflecting a significant acceleration in growth," added CNBC."
""Our relevance in AI continues to build," CFO Mark Patterson said in the press release. "We have a multi-year, multi-billion-dollar campus refresh opportunity starting to ramp, with strong demand for our refreshed networking products." Moving forward, Cisco expects Q2 revenue to range from $15 billion to $15.2 billion, which is above expectations for $14.6 billion. Adjusted EPS of $1.01 to $1.03 is expected, which tops estimates for 99 cents."
Futures opened flat with the S&P 500 up about a point, the SPDR S&P 500 ETF down fractionally, the Dow up roughly 27 points, and the NASDAQ near breakeven. The U.S. government reopened after 43 days when a funding measure signed by President Trump cleared the House 222 to 209, funding operations through the end of January. Cisco beat earnings and revenue estimates, reported $1.3 billion in AI infrastructure orders, and raised Q2 and full-year guidance above expectations. Gold climbed back to $4,230, and Wells Fargo projects gold could reach $4,500–$4,700 by the end of next year.
Read at 24/7 Wall St.
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