The logo of U.S. networks giant Cisco Systems is seen in front of their headquarters in Issy-les-Moulineaux, near Paris, France August 6, 2022. REUTES/Sarah Meyssonnier
(Reuters) -Shares of Cisco Systems rose nearly 6% in early trading on Thursday, after the networking equipment maker raised its annual profit and revenue forecast on robust cloud demand.
Cisco, a key supplier to cloud, enterprise and telecom customers, has been riding a wave of AI-driven infrastructure spending as businesses accelerate cloud migrations and upgrade campus networks, which has propelled its shares to gain almost 25% this year.
