Cisco shares gain on positive sales forecast as AI buoys demand

(Bloomberg/Dina Bass) — Cisco Systems Inc. shares rallied after the company issued a solid forecast for revenue in the current quarter, a sign the largest seller of networking gear is benefiting from demand for systems using artificial-intelligence technology.

Sales in the period ending in July will be $14.5 billion to $14.7 billion, Cisco said in a statement Wednesday. Analysts polled by Bloomberg had predicted $14.5 billion on average. Profit, excluding some items will be as high as 98 cents a share...