Cisco Systems posted modestly better-than-expected fiscal fourth-quarter results, with revenue rising 8% year over year to $14.67 billion versus analysts’ $14.62 billion consensus. Adjusted earnings came in at $0.99 a share, a penny ahead of expectations, while GAAP earnings were $0.71. Net income climbed to $2.8 billion, and adjusted gross margin reached 68.4%, also topping estimates. Networking sales grew 12% to $7.63 billion as enterprises and cloud providers expanded data-center capacity, offsetting slower security revenue growth. Product revenue totaled $10.89 billion and service revenue $3.79 billion. Cisco said remaining performance obligations stand at $43.5 billion. Chief Executive Officer Chuck Robbins said orders for artificial-intelligence infrastructure from large web-scale customers hit $800 million in the quarter and $2 billion for the year—more than double the company’s original $1 billion goal. Cisco also reiterated that the restructuring program announced last August should be substantially completed by the end of the second quarter of fiscal 2026. For the current quarter, the company projected adjusted earnings of $0.97 to $0.99 per share on revenue of $14.65 billion to $14.85 billion, roughly in line with Wall Street expectations. Full-year fiscal 2026 guidance calls for adjusted earnings of $4.00 to $4.06 a share and revenue of $59 billion to $60 billion. Despite the earnings beat, the stock fell about 4% in late trading as investors weighed the subdued outlook.