Cisco shares dropped 9% on Thursday despite beating earnings expectations and issuing stronger-than-expected guidance. Fourth quarter revenue increased 18% to $17.3 billion, surpassing the $16.8 billion analyst consensus. For the current quarter, Cisco forecast revenue between $18 billion and $18.2 billion, well above the $16.8 billion estimate. Hyperscalers placed $4 billion in infrastructure orders during the quarter, bringing the fiscal year total to $9.3 billion. The company expects hyperscaler-related revenue to nearly double to $7.5 billion by fiscal year 2027.
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