Cisco Q1 revenue jumps 24%, fastest in 15 years, as AI revenue outlook doubles

After US market close on November 12, Cisco Systems released its financial results for the first quarter of fiscal 2027, a period ending October 24. Revenue rose 24% year on year to $18.5 billion, the fastest growth rate the company has posted in more than 15 years, while adjusted earnings per share came in at $1.40. Both figures beat what analysts had expected. The report also gave first-quarter revenue as a range of $18.5 billion to $18.52 billion, up roughly 24% to 24.4%, ahead of the consensus estimate of about $18.1 billion.

Alongside the results, Cisco revised its outlook for the current fiscal year, lifting its projected AI-related revenue from hyperscaler data center operators to $9 billion, more than double the level of the previous fiscal year. Chief executive Chuck Robbins said the company is in the very early stages of a multi-year networking supercycle, adding that organizations of all kinds are turning to Cisco for its technology and expertise to scale, secure and optimize their operating environments for the era of agentic AI.

Cisco shares have climbed roughly 35% so far this year, outpacing a gain of about 9% for the Nasdaq over the same period. In after-hours trading following the earnings release, the stock initially jumped as much as 6%, then retreated and turned roughly 1% lower, leaving it at that reduced after-hours level for now.