Core Viewpoint - Cisco's Q1 revenue reached $14.88 billion, representing an 8% year-over-year growth, with non-GAAP EPS of $1.00, up 10%, both exceeding Wall Street expectations. This marks the fourth consecutive quarter of revenue growth for the company [1][2][5]. Financial Performance - Q1 revenue was $14.88 billion, an 8% increase year-over-year; non-GAAP EPS was $1.00, a 10% increase, surpassing guidance [5]. - Q2 revenue guidance is set at $15.0-15.2 billion, exceeding market expectations of $14.6-14.7 billion; full-year revenue guidance has been raised to $60.2-61.0 billion [5]. - GAAP gross margin was 65.5%, and non-GAAP operating margin was 34.4%, both above the guidance range [5]. - Product orders grew 13% year-over-year, with network product orders achieving double-digit growth for the fifth consecutive quarter [5]. AI Infrastructure Orders - AI infrastructure orders reached $1.3 billion, significantly accelerating from $800 million in the previous quarter, indicating Cisco's growing relevance in the AI sector [9]. - The company is enhancing its offerings by upgrading chips and network devices to better connect server racks and data centers for complex AI tasks [9]. - Cisco launched a new Ethernet switch based on NVIDIA chips to compete effectively in the market [9]. Core Business Developments - The networking business showed strong performance, with revenue increasing 15% to $7.77 billion, surpassing analyst expectations of $7.47 billion [9]. - All technology categories within the campus network (switching, routing, wireless, and IoT) experienced accelerated growth in Q1, with new solutions like smart switches and WiFi 7 products growing faster than previous releases [9]. Strategic Focus - Cisco is focusing on upgrading AI network devices and has launched new Ethernet switches based on NVIDIA chips [10]. - The company plans to strengthen its software and security business through a $28 billion acquisition of Splunk, aiming for business diversification [10]. - There is a focus on profitable growth, capital returns, and strategic investments [10].

Financial Performance - Cisco reported Q1 revenue of $14.88 billion, an 8% year-over-year increase, and a non-GAAP EPS of $1.00, up 10%, both exceeding Wall Street expectations [1][3] - The company has achieved revenue growth for four consecutive quarters [1] - GAAP gross margin was 65.5%, and non-GAAP operating margin was 34.4%, both above guidance ranges [3] Core Business Progress - AI infrastructure orders from hyperscale customers reached $1.3 billion, significantly up from $800 million in the previous quarter, indicating strong demand in the AI sector [3] - Product orders grew by 13% year-over-year, with network product orders achieving double-digit growth for the fifth consecutive quarter [3][4] - The networking business saw a revenue increase of 15% to $7.77 billion, surpassing analyst expectations [4] Strategic Development - Cisco launched a new Ethernet switch based on NVIDIA chips to enhance its competitive position against rivals [3] - The company is focusing on upgrading AI network equipment and has initiated a multi-year, multi-billion dollar upgrade cycle in campus networking [4] - Cisco plans to strengthen its software and security business through a $28 billion acquisition of Splunk, aiming for business diversification [3]