Latest news with #ChuckRobbins
CNBC
an hour ago
- Business
- CNBC
Cisco CEO Chuck Robbins: Most of my peers expect to eventually hire fewer people due to AI
Chuck Robbins, CEO of Cisco, joins 'Squawk on the Street' to discuss the companies recent quarter, expectations for how AI will impact jobs, and much more.
Economic Times
10 hours ago
- Business
- Economic Times
Cisco projects upbeat quarterly revenue as AI fuels networking equipment demand
Reuters Cisco Systems forecast first-quarter revenue above Wall Street estimates on Wednesday, as the artificial intelligence boom boosted demand for its networking equipment from cloud customers. Hyperscale cloud investments are healthy and driving IT infrastructure financing, which sets up a good backdrop for Cisco. "Within the enterprise spending environment, there is incremental spending to beef up the infrastructure to accommodate AI, so that could potentially be another growth driver, especially with Cisco having such a big presence in the traditional enterprise market," Edward Jones analyst David Heger said. Big tech firms such as Microsoft, Amazon and Alphabet are ramping up spending to ease capacity shortages that have limited their ability to meet AI demand, even after several quarters of multi-billion-dollar outlays. Cisco's AI infrastructure orders exceeded $800 million in the fourth quarter, bringing the total for fiscal 2025 to over $2 billion, more than double its original target, CEO Chuck Robbins said on a post-earnings call. The company has not seen any pull-forward in demand for products, but did note a small impact from tariffs in the quarter and during the fiscal year, he added. "We expect the sovereign AI opportunity to build momentum in the second half of fiscal 2026. Cisco will be a core system provider for these significant AI training and inference cluster build outs and integral to their development and eventual hyperscaling." Cisco has partnered with Humain, Saudi Arabia's state-backed AI company, and it will provide digital solutions for Bahrain's government information and telecommunications infrastructure. The company expects revenue to be between $14.65 billion and $14.85 billion for the first quarter, compared with analysts' average estimate of $14.62 billion, according to data compiled by LSEG. Its revenue for the fourth quarter ended July 26 came in at $14.67 billion, compared with estimates of $14.62 billion. Networking product orders grew in the double digits during the quarter, driven by webscale infrastructure, switching, enterprise routing, industrial IoT and servers. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Tariffs, tantrums, and tech: How Trump's trade drama is keeping Indian IT on tenterhooks Good, bad, ugly: How will higher ethanol in petrol play out for you? As big fat Indian wedding slims to budget, Manyavar loses lustre As 50% US tariff looms, 6 key steps that can safeguard Indian economy Stock Radar: JSPL forms Ascending Triangle pattern on weekly charts, could hit fresh 52-week high soon Nifty and business are different species: 5 small-cap stocks from different sectors with upside potential of up to 30% F&O Radar | Deploy Bear Put Spread in Nifty to play index's negative stance amid volatility Wealth creation: Look beyond the obvious in some things; 10 fertilizer sector companies worth watching
The Star
15 hours ago
- Business
- The Star
Cisco forecasts higher-than-expected quarterly revenue on increased demand
FILE PHOTO: A logo of CISCO sits outside the company's house on the opening day of the 55th annual meeting of the World Economic Forum (WEF) in Davos, Switzerland, January 20, 2025. REUTERS/Yves Herman/File photo (Reuters) -Cisco Systems forecast first-quarter revenue above Wall Street estimates on Wednesday, as the artificial intelligence boom boosted demand for its networking equipment from cloud customers. Enterprises such as Cisco have been benefiting as more businesses move workloads to cloud environments and modernize campus footprints to prepare for AI technologies. "The AI infrastructure orders we received from webscale customers in fiscal 2025 were more than double our original target, indicating a massive opportunity ahead as we lead the required architectural shift and build the critical infrastructure needed for the AI era," CEO Chuck Robbins said. The company expects its revenue to be between $14.65 billion and $14.85 billion during the first quarter, compared with analysts' average estimate of $14.62 billion, according to data compiled by LSEG. Its revenue for the fourth quarter ended July 26 came in at $14.67 billion, compared with estimates of $14.62 billion. (Reporting by Juby Babu in Mexico City; Editing by Shreya Biswas)
CNA
18 hours ago
- Business
- CNA
Cisco sees higher-than-expected quarterly revenue on increased networking gear demand
Cisco Systems forecast first-quarter revenue above Wall Street estimates on Wednesday, as the artificial intelligence boom boosted demand for its networking equipment from cloud customers. Enterprises such as Cisco have been benefiting as more businesses move workloads to cloud environments and modernize campus footprints to prepare for AI technologies. "The AI infrastructure orders we received from webscale customers in fiscal 2025 were more than double our original target, indicating a massive opportunity ahead as we lead the required architectural shift and build the critical infrastructure needed for the AI era," CEO Chuck Robbins said in a statement. Cisco's AI infrastructure orders exceeded $800 million in the fourth quarter, bringing the total for fiscal 2025 to more than $2 billion, Robbins said on a post-earnings call. Cisco has not seen any pull-forward in demand for products, he added. The company expects its revenue to be between $14.65 billion and $14.85 billion for the first quarter, compared with analysts' average estimate of $14.62 billion, according to data compiled by LSEG. Its revenue for the fourth quarter ended July 26 came in at $14.67 billion, compared with estimates of $14.62 billion.
Yahoo
18 hours ago
- Business
- Yahoo
Cisco's CEO Sees 'Massive Opportunity' as AI Infrastructure Orders Grow
Cisco (CSCO) reported fiscal fourth-quarter earnings that narrowly topped analysts' expectations. Its CEO suggested bigger gains could be ahead as the company looks to capitalize on growing AI demand. The networking giant posted adjusted earnings per share of 99 cents on revenue that jumped 8% year-over-year to $14.7 billion, just slightly above analysts' estimates compiled by Visible Alpha. Sales from Cisco's security and observability segments missed projections. However, strong growth in AI infrastructure orders helped push Cisco's annual total over $2 billion, more than double the company's $1 billion target. CEO Chuck Robbins said the results underlined a "massive opportunity ahead as we lead the required architectural shift and build the critical infrastructure needed for the AI era." Cisco projected first-quarter revenue of $14.65 billion to $14.85 billion and adjusted earnings per share of 97 cents to 99 cents. Analysts were looking for $14.63 billion and EPS of 97 cents, respectively. Shares of Cisco fell 2% in after-hours trading following the results. The stock has added nearly a fifth of its value in 2025 through Wednesday's close. Read the original article on Investopedia Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
