Cisco raised its fiscal 2027 revenue forecast after quarterly sales grew 24%, while increasing its expected AI infrastructure revenue from hyperscalers to $9 billion for the year.
San Jose-based Cisco reported $18.5 billion in fiscal first-quarter revenue, up 24% from a year earlier. The results came on the date the company had listed in its earnings calendar.
GAAP net income rose 59% to $4.6 billion, and diluted earnings per share increased 58% to $1.14. Product revenue climbed 32%, including a 43% increase in networking, while services revenue grew 1%.
Chair and CEO Chuck Robbins said Cisco was in what he called the “very early stages of a multi-year networking supercycle.” The company described demand as broad-based and said its revenue and non-GAAP earnings-per-share growth rates were its strongest in more than 15 years.
Cisco raised its fiscal 2027 revenue outlook to $74.8 billion to $75.8 billion. The $9 billion target for AI infrastructure revenue from hyperscalers is more than 100% above the fiscal 2026 total, the company said. Cisco also reported returning $3.7 billion to stockholders through buybacks and dividends.
For its fiscal second quarter, Cisco expects revenue of $18 billion to $18.2 billion and GAAP earnings per share of $1.07 to $1.09. Its fiscal 2027 GAAP earnings-per-share outlook is $4.38 to $4.44.
The SEC’s index shows it accepted Cisco’s Form 8-K at 11:06 a.m. ET on Nov. 12. The filing lists results of operations and financial condition under Item 2.02 and financial statements and exhibits under Item 9.01, including the earnings release as Exhibit 99.1. Cisco declared a quarterly dividend of 42 cents per share, payable Jan. 20, 2027, to shareholders of record at the close of business Jan. 4.
