Cisco rises ahead of results, AI-driven demand in focus
CSCO•Revenue and earnings expected to grow
The seller of networking equipment is expected to report quarterly revenue up 15% to $16.82 billion, with adjusted earnings per share of $1.17 versus $0.99 a year ago, according to LSEG-compiled data.
Shares rise ahead of quarterly results
Cisco CSCO.O shares rose 1.8% ahead of quarterly results after the bell, with investors watching for updates on demand for its AI networking equipment.
AI orders and valuation remain in focus
The company in May raised its annual revenue forecast, citing a surge in orders for its AI-powered networking gear.
The stock has jumped about 59% year to date, far outpacing the Nasdaq's 14% rise; it recently traded at 25x forward earnings versus its five-year average of 15x.
Competition in the AI networking space is intensifying, with startup Lumilens recently valued at $5.5 billion and hiring engineers from Cisco.
