Cisco Raises Full-Year Forecast Despite Revenue Decline

Cisco's earnings surpassed expectations, but the company reported its fourth consecutive quarter of declining revenue.

Cisco's first-quarter net income was $2.7 billion, or 68 cents per share, exceeding analyst expectations despite a decrease from the previous year.
The company's revenue for the quarter was $13.8 billion, marking a 6% year-over-year decline.
Cisco projected second-quarter revenue between $13.75 billion and $13.95 billion, slightly above analyst estimates.
The firm raised its full-year revenue forecast to $55.3 billion-$56.3 billion and adjusted earnings per share to $3.60-$3.66.
Cisco's focus on AI and cybersecurity is part of its strategy following workforce cuts earlier this year.