💨 Abstract

Cisco Systems reported better-than-expected Q1 results due to increased demand for networking gear from the AI boom. The company forecast Q2 revenue and profit above estimates, but annual revenue is in line with expectations. Cisco is trying to reduce reliance on networking equipment and focus on cybersecurity, cloud systems, and AI-driven products. It recently completed a $28 billion acquisition of Splunk to boost its software business.

Courtesy: theprint.in