Cisco Systems has given a quarterly revenue forecast that far exceeds Wall Street estimates, indicating that the company's efforts to seize a larger share of network equipment in the AI data center market have been successful. The company said in an announcement on Wednesday that revenue for the first fiscal quarter ending October will be between $18 billion and $18.2 billion. The average estimate from analysts is $16.8 billion. Excluding some projects, earnings per share are expected to be between $1.32 and $1.34, which is also higher than the market forecast of $1.17. The company attributed strong sales to “widespread and record-high demand for Cisco technology.” Industry research analyst Woo Jin Ho wrote in the report: “We expect the momentum of artificial intelligence to remain strong.” Cisco shares rose 1% to $125.19 in after-hours trading. As of Wednesday's close, the stock had cumulatively climbed 61% this year. Despite focusing on supplying artificial intelligence data centers, Cisco's sales still rely on traditional networking businesses. In the fourth fiscal quarter ending July, the company's revenue increased 18% year over year to reach US$17.3 billion. Earnings per share, excluding some projects, were reported at $1.22. Analysts had forecast revenue of $16.8 billion and earnings per share of $1.17.

Cisco Systems has given a quarterly revenue forecast that far exceeds Wall Street estimates, indicating that the company's efforts to seize a larger share of network equipment in the AI data center market have been successful. The company said in an announcement on Wednesday that revenue for the first fiscal quarter ending October will be between $18 billion and $18.2 billion. The average estimate from analysts is $16.8 billion. Excluding some projects, earnings per share are expected to be between $1.32 and $1.34, which is also higher than the market forecast of $1.17. The company attributed strong sales to “widespread and record-high demand for Cisco technology.” Industry research analyst Woo Jin Ho wrote in the report: “We expect the momentum of artificial intelligence to remain strong.” Cisco shares rose 1% to $125.19 in after-hours trading. As of Wednesday's close, the stock had cumulatively climbed 61% this year. Despite focusing on supplying artificial intelligence data centers, Cisco's sales still rely on traditional networking businesses. In the fourth fiscal quarter ending July, the company's revenue increased 18% year over year to reach US$17.3 billion. Earnings per share, excluding some projects, were reported at $1.22. Analysts had forecast revenue of $16.8 billion and earnings per share of $1.17.