Cisco jumps after announcing 2026 forecast raise, 5% job cuts

Cisco Systems

13/05/2026 21:44

** Shares of Cisco CSCO.O rise 12.6% to $114 in extended trading

** Company says it is restructuring its business to focus on growth areas, including AI, and expects to record a related $1 billion charge due to severance and other costs

** Says it will reduce overall workforce in Q4 by fewer than 4,000 jobs, representing less than 5% of total employee base

** Expects fiscal 2026 revenue in the range of $62.8 billion to $63 billion, compared with its prior forecast of $61.2 billion to $61.7 billion

** Shares are up 32.25% YTD

 (Reporting by Katha Kalia in Bengaluru)

 ((katha.kalia@thomsonreuters.com))