Cisco Raises Q4 Revenue Above Analysts' Estimates, Driven by Enterprise Spending Surge

By : Benzinga

Published On: 2024-05-16

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00:33

Cisco Systems forecast fourth-quarter revenue above analysts' low expectations, benefiting from a pick-up in enterprise spending and easing supply chain constraints. Cisco's revenue fell 13% but beat estimates, with Splunk acquired to boost cybersecurity. Cisco is trying to reduce reliance on its massive networking equipment business, which has suffered from supply issues and a post-pandemic slowdown. Cisco has benefited from increased spending as companies boost AI and cloud computing needs.

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