Cisco Delivers Upbeat Revenue Forecast in Sign of AI Payoff

Cisco, the largest maker of machines that run computer networks and the internet, gave an upbeat sales forecast, showing progress in its effort to capture more artificial intelligence spending. Revenue will be $15 billion to $15.2 billion in the quarter that runs through January, the company said in a statement Wednesday. That topped the average Wall Street estimate of $14.7 billion, according to data compiled by Bloomberg. Earnings, excluding some expenses, will be roughly $1.02 a share, compared with a projection of 99 cents. Cisco CEO Chuck Robbins said the need for secure networking in AI is helping fuel demand. Like its tech peers, Cisco is working to benefit from booming AI spending. Bloomberg Intelligence Senior Hardware and Networking Analyst Woo Jin Ho joins Bloomberg Businessweek Daily to discuss. He speaks with Carol Massar and Tim Stenovec. (Source: Bloomberg)