(Bloomberg) — Cisco Systems Inc., the largest maker of computer networking equipment, rebounded in late trading after the company outlined headway in AI and security technology, helping ease concerns about a sales slowdown.
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Cisco, which reported fiscal fourth-quarter results Wednesday, is coming off a spike in demand fueled by the end of pandemic-era supply shortages. Though growth is now decelerating sharply from last year’s surge, Chief Executive Officer Chuck Robbins pointed to a bright future where revenue is more consistent — thanks to subscription-based services — and Cisco capitalizes on the transition to AI-focused data centers.
The company said it has already recorded $500 million in orders for AI products, which it offers to so-called hyperscaler customers — large cloud-computing service providers.
“Cisco is committed to helping our customers…
