CISCO Systems forecast quarterly revenue and profit above Wall Street estimates after posting upbeat first-quarter results, helped by improving demand for its networking gear amid the Artificila intelligence boom.Shares of the computer networking equipment maker were down 1.4 percent in extended trading after the company forecast annual revenue broadly in line with estimates.
Cisco completed its $28 — billion acquisition of Splunk in March, which aims to boost its software business amid an AI boom while also helping to offset a post-pandemic slowdown in demand by enhancing its cybersecurity capabilities.The company expects second-quarter revenue to be between $13.75 billion and $13.95 billion, which was above analysts' average estimate of $13.73 billion, according to LSEG-compiled data.