Video explainer: Cisco just had its fastest revenue growth in more than 15 years and the stock is down about 2% this morning.
Cisco just had its fastest revenue growth in more than 15 years and the stock is down about 2% this morning.
Fiscal Q1 revenue was $18.5 billion, up 24% from a year ago. Networking grew 43% and @Cisco raised its AI infrastructure forecast from the big cloud companies to $9 billion this fiscal year. The catch is gross margin, which fell to 65.6% from 68.1% because AI hardware earns less and memory costs more.
I think the selloff is more about how much was priced in than anything wrong with the quarter. Earnings grew 40% on 24% revenue growth and that is a good problem to have. $CSCO
Not financial advice
Cisco's quarter in 2 pictures. Revenue grew 24% to $18.5 billion and the AI forecast went up to $9 billion while gross margin slipped 2.5 points. Selling more gear and keeping less of each dollar is still selling more gear. @Cisco $CSCO
Sources: newsroom.cisco.com · www.cnbc.com · www.investing.com · www.investing.com · siliconangle.com · www.fool.com
Not financial advice. For informational and educational purposes only.
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