Cisco touts market share wins, AI potential as revenue forecast disappoints

Networking equipment maker Cisco Systems’ CEO talked up market share wins and artificial intelligence (AI) opportunities, as he moved to allay fears over slowing growth after a disappointing annual revenue forecast.

The remarks helped the company’s shares reverse course in extended trading to rise more than 2% on Wednesday. But the stock has underperformed a broader market rally this year with an 11% rise, dogged by worries that a cloud spending slowdown would hit orders.