Cisco's stock pops 14% on surging AI orders, as company says it's cutting almost 4,000 jobs

Cisco CEO Chuck Robbins speaks at the Semafor World Economy summit in Washington on April 15, 2026. Alex Wong | Cisco shares soared 14% in extended trading on Wednesday after the networking company issued results and guidance that topped Wall Street's projections. The company said it's cutting its workforce this quarter by fewer than 4,000 jobs, representing less than 5% of total employees. Here's how the company did in comparison with LSEG consensus: Earnings per share: $1.06 adjusted vs. $1.04 expected Revenue: $15.84 billion vs. $15.56 billion expected Revenue increased 12% in the quarter ended April 25, from $14.15 billion a year earlier, Cisco said in a statement. Net income rose to $3.37 billion, or 85 cents per share, from $2.49 billion, or 62 cents per share, a year earlier. For the fiscal fourth quarter, Cisco called for $1.16 to $1.18 in adjusted earnings per share on $16.7 billion to $16.9 billion in revenue. Analysts polled by LSEG were looking for $1.07 in adjusted earnings per share on $15.82 billion in revenue. Cisco said it's received $5.3 billion in artificial intelligence infrastructure and hyperscaler orders so far this year, and raised its expected orders for the fiscal year to $9 billion, up from $5 billion. The company said it expects revenue in that market for the fiscal year of $4 billion, up from a prior projection of $3 billion. …