Cisco's stock pops 15% on surging AI orders, as company says it's cutting almost 4,000 jobs

Cisco

shares soared 15% in extended trading on Wednesday after the networking company issued results and guidance that topped Wall Street's projections.

The company said it's cutting its workforce this quarter by fewer than 4,000 jobs, representing less than 5% of total employees.

Here's how the company did in comparison with LSEG consensus:

Revenue increased 12% in the quarter ended April 25, from $14.15 billion a year earlier, Cisco said in a statement. Net income rose to $3.37 billion, or 85 cents per share, from $2.49 billion, or 62 cents per share, a year earlier.