Cisco stock jumps 8% as AI‑networking orders boost outlook to $60.2B‑$61B
The post Cisco stock jumps 8% as AI‑networking orders boost outlook to $60. 2B‑$61B appeared com. Cisco shares rose 8% in late trading on Wednesday after the company raised its fiscal‑2026 revenue outlook to between $60. 2 billion and $61 billion, according to its Q3 earnings report, with executives saying the new range reflects stronger demand for AI‑ready networking systems. The company reported that its earlier forecast fell short by almost $1 billion, and the new figure put it above expectations tracked by Wall Street, and this is after Cisco outperformed revenue and earnings targets in the second quarter too. The company said it now expects $4. 14 per share in adjusted earnings for fiscal 2026, a number that stands higher than the $4. 05 analysts projected. Demand for secure and fast networking is rising as businesses rush into AI upgrades across data centers, cloud systems, and enterprise networks. AI orders increase as Cisco builds partnerships and updates hardware Cisco CEO Chuck Robbins, speaking to analysts during a conference call, said the company expects the AI pipeline to accelerate in the second half of fiscal 2026. Chuck said customers are moving fast to unlock AI systems, and that networks must stay secure as workloads expand. The company also said late Wednesday that AI infrastructure orders reached $1. 3 billion in the most recent period, compared with $800 million in the quarter before that. Executives said Cisco is redesigning chips and routing systems to handle heavier AI traffic, with upgrades meant to connect large racks of servers used for advanced training models and other compute‑heavy tasks. Cisco is competing against Broadcom and Hewlett Packard Enterprise, which owns Juniper Networks, but the business is also working with Nvidia through a partnership that the company says gives it an advantage in building AI‑optimized network equipment. During the fiscal first quarter, which ended October 25, Cisco reported $14. 9 billion in revenue, showing an 8%.