Cisco Systems raised annual revenue forecast on Wednesday, a sign of improving demand as the computer networking equipment maker shifts focus to cybersecurity, cloud systems and AI-driven products.Companies have ramped up investments in AI technologies which require heavy computing power,

Cisco Systems (CSCO) reported fiscal first-quarter earnings that exceeded analysts’ expectations and raised its full-year forecast, despite declining revenues. The networking-equipment provider reported first-quarter net income of $2.

Cisco reported fiscal Q1 earnings that fell from a year earlier but topped Wall Street estimates while revenue met views.