By Sheryl Estrada
Publication Date: 2026-05-15 10:27:00
Cisco shares jumped more than 13% Thursday. The rally followed an earnings report Wednesday that showed the networking giant’s multi-year pivot to AI infrastructure is finally paying off.
For the third quarter ended April 25, Cisco reported record revenue of $15.8 billion, up 12% year over year, topping the high end of its guidance. The company also raised its fiscal 2026 outlook, lifting its AI revenue target to $4 billion (from $3 billion) and AI orders target to $9 billion (from $5 billion). It guided current-quarter revenue as high as $16.9 billion, above Wall Street expectations.
“In Q3, we once again delivered double-digit growth on both the top and bottom lines, which exceeded the high end of our guidance, coupled with record non-GAAP operating income,” Cisco CFO Mark Patterson said in a statement. The results, he added, show “great execution and financial discipline by our teams.”
Chuck Robbins, Cisco’s chair and CEO, said the company is…
