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Thursday, November 13, 2025
What’s happening: Shares of Cisco Systems rose sharply in after-hours trading on Wednesday, following the release of the company’s results for the first quarter of fiscal 2026.
What happened: The networking equipment maker posted better-than-expected sales and earnings for the latest quarter.
Cisco also raised its guidance for fiscal 2026, with the company continuing to benefit from robust demand for its networking equipment.
How were the results: The San Jose, California-based company reported single-digit sales growth for its first quarter.
Why it matters: Cisco said it is seeing strong demand for its networking equipment due to datacentre expansion amid the ongoing AI boom.
Revenue growth in the latest quarter was driven by a 10% surge in product sales, while services revenue grew by 2%.
Product revenues were driven by 15% growth in Networking and 6% in Observability. Security product revenues contracted by 2%, while Collaboration revenues declined 3%.
Cisco reported AI infrastructure orders from hyperscalers at $1.3 billion for the recent quarter. CEO Chuck Robbins said these revenues could reach $3 billion in fiscal 2026. The company secured AI orders of over $2 billion, mostly all from hyperscalers, during fiscal 2025.
The company’s board declared a quarterly dividend of 41 cents per share, payable on January 21.
“We had a solid start to fiscal 2026, and Cisco is on track to deliver our strongest year yet,” Robbins said.
Management guided to revenues of $15-$15.2 billion for the fiscal second quarter, higher than market estimates of $14.63 billion. The company projected adjusted earnings of $1.01-$1.03 per share, above Street estimates of 99 cents per share.
Cisco raised its revenue guidance for fiscal 2026 to $60.2-$61 billion, up its previous outlook of $59-$60 billion. The company also lifted its projection for adjusted earnings to $4.08-$4.14 per share, from the previous $4.00-$4.06 per share.
How shares responded: Cisco’s shares surged 7.5% to $79.48 in the extended trading hours on Wednesday following the release of quarterly results. The stock has added around 20% over the past six months.
What to watch: Investors will continue monitoring the AI boom, which is expected to result in continued strong demand for Cisco’s networking equipment.
Context: The JPY/USD forex pair edged higher this morning as investors digested the latest inflation data.
Details: Data released this morning showed Japan’s producer prices surged 2.7% year-over-year in October. Although the figure represented a slowdown from the 2.8% recorded in the previous month, it came in above market estimates of 2.5%.
On a monthly basis, producer prices rose 0.4%, below market expectations of 0.5%, recording growth for the second straight month.
Meanwhile, Prime Minister Sanae Takaichi called on the Bank of Japan to keep rates low. He also said in parliament that the BoJ remains focused on attaining moderate inflation amid growth in wages and steady economic growth.
Strength in the US dollar limited the gains in the JPY/USD forex pair this morning. The US dollar index, which measures the greenback’s performance versus a basket of major peers, rose slightly to 99.52.
The JPY/USD forex pair edged higher to 154.75 this morning, while the Nikkei 225 index rose around 0.1% to 51,126.62.
What to watch: Investors await the release of economic data on Tertiary Industry Index (0830 UAE Time) on Friday. Tertiary Industry Index in Japan, which fell 0.4% to 104.30 points in August, is expected to rise by 0.3% in September.
Data on GDP growth rate, industrial production and capacity utilisation will be released on Monday. Japan’s economy, which expanded by 2.2% on an annualised basis in the second quarter, is expected to shrink by 1.2% in the third quarter. Analysts expect Japan’s industrial production to grow by 2.2% in September, following a 1.5% decline in the previous month.
Other Markets: US trading indices closed mixed on Wednesday, with the Dow Jones index and S&P 500 up by 0.68% and 0.06%, respectively, and the Nasdaq 100 down by 0.06%.
Ukraine’s top military commander said that forces had withdrawn from five villages in the southern Zaporizhia region following intense fighting with Russian forces. The news sent the RUB/USD pair higher in forex trading this morning.
Australia’s employment rose by 42,200 to a record high of 14.68 million in October, up from 12,700 in the previous month. The latest reading topping market estimates of 20,000 lent support to the AUD/USD forex pair.
UK’s RICS Residential Market Survey showed the house price balance fell to -19% in October, from -17% in the previous month. The latest reading missing market estimates of -14% sent the GBP/USD pair lower in forex trading this morning.
New Zealand’s electronic card transactions grew by 0.2% to NZ$6.90 billion in October. On an annual basis, electronic card spending rose 0.8% in October, compared to 1% in the previous month, which exerted pressure on the NZD/USD forex pair.
US crude oil inventories rose by 1.3 million barrels in the week ending November 12, after a gain of 6.5 million barrels in the previous week, sending WTI crude oil prices lower this morning.
South Africa’s gold production (1330 UAE Time) and mining production (1330 UAE Time), UK’s labour productivity (1330 UAE Time) and NIESR monthly GDP tracker (1600 UAE Time), Eurozone’s industrial production (1400 UAE Time), Italy’s 30-year BTP auction (1410 UAE Time), 3-year BTP auction (1410 UAE Time), 7-year BTP auction (1410 UAE Time) and BTP auction (1410 UAE Time), Turkey’s foreign exchange reserves (1530 UAE Time), Brazil’s retail sales (1600 UAE Time), car production (1500 UAE Time), new car registrations (1500 UAE Time) and business confidence (1800 UAE Time), Russia’s GDP growth rate (2000 UAE Time), US 4-week Bill auction (2030 UAE Time), 8-week Bill auction (2030 UAE Time), EIA crude oil stocks change (2100 UAE Time), EIA gasoline stocks change (2100 UAE Time), 15-year mortgage rate (2100 UAE Time), 30-year mortgage rate (2100 UAE Time), EIA Cushing crude oil stocks change (2100 UAE Time), EIA distillate stocks change (2100 UAE Time), EIA heating oil stocks change (2100 UAE Time) and 30-year Bond auction (2200 UAE Time), as well as Canada’s 2-year Bond auction (2100 UAE Time).
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