Cisco reported stronger-than-expected quarterly earnings and revenue guidance, but its shares fell in after-hours trading Wednesday.

The company forecast quarterly revenue of $18 billion to $18.2 billion, well above analysts’ average estimate of $16.8 billion.

Cisco’s revenue rose 18% to $17.8 billion, while net income jumped 51% to $3.9 billion.

The company is benefiting from growing demand for AI infrastructure, with major technology companies placing $4 billion in infrastructure orders during the quarter, CNBC has reported.

Despite the strong results and outlook, investors appeared disappointed, sending Cisco shares lower after the report.