Cisco reported adjusted EPS of $1.06 on $15.84 billion revenue, exceeding estimates and lifting AI orders outlook to $9 billion.
Cisco’s stock jumped 11% in extended trading after reporting fiscal third-quarter earnings and revenue above Wall Street expectations. Adjusted earnings per share reached $1.06, surpassing the $1.04 estimate, while revenue hit $15.84 billion against a $15.56 billion forecast.
Revenue grew 12% year-over-year from $14.15 billion, and net income rose to $3.37 billion, or 85 cents per share, up from $2.49 billion, or 62 cents per share, in the prior-year period. The company also raised its fiscal fourth-quarter guidance, projecting adjusted EPS of $1.16 to $1.18 on revenue of $16.7 billion to $16.9 billion.
Cisco increased its AI infrastructure orders forecast for the fiscal year to $9 billion from $5 billion and expects $4 billion in revenue from the segment, up from $3 billion. The company’s shares have outperformed the Nasdaq this year, gaining 33% compared to the index’s 14% advance.