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00:02Cisco reported strong financial results on Wednesday, as demand for artificial intelligence
00:06continued to drive growth in its tech hardware business, according to Barron's. The company
00:11reported adjusted fiscal fourth-quarter earnings of $1.22 per share on revenue of $17.3 billion,
00:18beating expectations of $1.17 per share on $16.8 billion in revenue.
00:24Networking revenue rose 28% from a year earlier to $9.79 billion, topping estimates of $9.66
00:30billion as AI infrastructure demand increased. Cisco said fiscal 2026 AI infrastructure orders
00:36reached $9.3 billion, above its previous $9 billion target. The company expects fiscal 2027 earnings
00:43of $5.05 to $5.11 per share on revenue of $72.2 billion to $73.4 billion, above analyst
00:52expectations.
00:53Shares fell 4% in after-hours trading on Wednesday. For all things money, visit Benzinga.com.
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