Cisco Reports Record $18.5 Billion First Quarter Revenue Driven by AI Demand
Cisco Systems (CSCO) reported record first-quarter fiscal year 2027 revenue of $18.5 billion, representing a 24% increase year over year. The growth was primarily fueled by massive demand for artificial intelligence infrastructure and networking hardware, with product orders from cloud customers surging 47%. Management raised its fiscal year 2027 AI-related revenue target to $9 billion, more than doubling previous levels as hyperscalers expand data center architectures. Additionally, Cisco is demonstrating improved operating leverage through strategic headcount reductions, which is expected to drive a 19% increase in revenue per employee and support continued share repurchases and dividends.
Tickers: $CSCO
Topics: AI revenue guidance Cloud infrastructure demand Operating leverage Quarterly earnings