US Stock Market Move | Q1 financial report exceeds expectations, Cisco Systems, Inc. (CSCO.US) jumps nearly 7% in pre-market trading.

On Thursday, Cisco Systems, Inc. (CSCO.US) surged nearly 7% in pre-market trading, closing at $78.76. On the news front, Cisco Systems, Inc. reported better-than-expected first-quarter performance for its fiscal year 2026 and provided optimistic guidance, showing progress in capturing more spending on artificial intelligence (AI). The financial report shows that Cisco Systems, Inc.'s first-quarter revenue rose 8% year-on-year to $14.9 billion, higher than the analysts' general expectation of $14.8 billion. Under non-GAAP accounting standards, net profit was $4 billion, up 9% year-on-year; earnings per share were $1.00, compared to $0.91 in the same period last year, higher than the analysts' general expectation of $0.98. Looking ahead, Cisco Systems, Inc. raised its full-year performance expectations for fiscal year 2026. The company currently expects full-year revenue to be $60.2 billion to $61 billion (previously expected to be $59 billion to $60 billion); and expects full-year non-GAAP earnings per share to be $4.08 to $4.14 (previously expected to be $4.00 to $4.06).