Cisco stock jumps 5% on earnings and revenue beat

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Cisco shares jumped 5% in extended trading on Thursday after the computer networking maker reported better-than-expected fiscal first-quarter results. Here's how the company did compared to LSEG consensus estimates: Revenue increased 24% from $14.88 billion a year earlier, Cisco said in a statement. Net income rose to $4.6 billion, or $1.14 per share, from $2.9 billion, or 72 center per share, a year ago. Cisco is trying to gain a foothold in the artificial intelligence buildout after missing out on the early years of the generative AI boom. The company's stock price is up about 35% this year as of Thursday's close, trouncing the Nasdaq, which has gained 9% over that stretch.