Cisco Optimistic on AI-Driven Growth Despite Revenue Challenges

Cisco Systems has raised its annual revenue forecast, driven by increased demand for AI-related networking tools and a strategic focus on cybersecurity and cloud systems. The company is benefiting from heightened investments in AI technologies, which require robust data center infrastructure. Cisco's recent $28 billion acquisition of Splunk aims to enhance its software and cybersecurity offerings. Despite a 6% revenue decline in the first quarter, Cisco's adjusted profit per share exceeded expectations.