Q4 26 EPS Adjusted
$1.22
BEAT +4.37%
Est. $1.17
Q4 26 Revenue
$17.25B
BEAT +2.52%
Est. $16.83B
vs S&P Since Q4 26
-6.8%
TRAILING MARKET
CSCO -8.6% vs S&P -1.8%
Full Year 2026 Results
FY 26 EPS
$4.33
BEAT +1.22%
Est. $4.28
FY 26 Revenue
$63.33B
BEAT +0.66%
Est. $62.91B
Market Reaction
Did CSCO Beat Earnings? Q4 2026 Results
Cisco Systems delivered a strong finish to fiscal 2026, with Q4 results that cleared Wall Street's bar on both the top and bottom lines and extended the company's EPS beat streak to five consecutive quarters. Non-GAAP earnings came in at $1.22 per sh… Read more Cisco Systems delivered a strong finish to fiscal 2026, with Q4 results that cleared Wall Street's bar on both the top and bottom lines and extended the company's EPS beat streak to five consecutive quarters. Non-GAAP earnings came in at $1.22 per share, beating the $1.17 consensus by 4.38%, while revenue of $17.25 billion topped estimates by 2.52% and grew 17.6% year over year. The central driver was an AI infrastructure boom that Cisco's management described as a networking supercycle, with the company booking $4.00 billion in AI-related orders during the quarter alone, bringing its full-year FY2026 AI order total to $9.30 billion. Product revenue surged 24% to $13.46 billion, led by a 28% jump in networking to $9.79 billion. Looking ahead, Cisco issued FY2027 revenue guidance of $72.20 billion to $73.40 billion, with AI infrastructure revenue expected to roughly double to $7.50 billion, signaling that management sees the demand cycle as durable rather than opportunistic.
Key Takeaways
- • Networking supercycle with Q4 networking product orders up 40% YoY, marking eighth consecutive quarter of double-digit growth
- • Q4 total product orders up 35% YoY; up 25% excluding hyperscalers with double-digit growth across every geography and customer market
- • AI infrastructure orders of $4 billion in Q4, totaling $9.3 billion for FY2026
- • Product revenue up 24% driven by Networking growth of 28%
- • Highest productivity metrics in 30 years measured by revenue, non-GAAP operating margin, and earnings per employee
CSCO Forward Guidance & Outlook
For Q1 FY2027, Cisco guides revenue of $18.0B–$18.2B and non-GAAP EPS of $1.32–$1.34 (GAAP EPS $1.08–$1.10), with non-GAAP gross margin of 65%–66% and non-GAAP operating margin of 35.5%–36.5%. For full-year FY2027, Cisco guides revenue of $72.2B–$73.4B and non-GAAP EPS of $5.05–$5.11 (GAAP EPS $4.00–$4.06). AI infrastructure revenue is expected to reach $7.5B in FY2027, up from approximately $4B in FY2026. Guidance reflects restructuring charges related to a plan announced May 13, 2026, expected to be substantially completed by end of FY2027. FY2027 non-GAAP tax rate assumed at approximately 18.5%.
CSCO YoY Financials
Q4 2026 vs Q4 2025, source: SEC Filings
CSCO Revenue by Segment
With YoY comparisons, source: SEC Filings
CSCO Revenue by Geography
With YoY comparisons, source: SEC Filings
“We delivered a very strong close to fiscal 2026, marking another record year for Cisco. Our record performance is a testament to the accelerated pace of innovation and the excellent execution by our teams.”
— Chuck Robbins, Q4 2026 Earnings Press Release
CSCO Earnings Trends
CSCO vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CSCO EPS Trend
Earnings per share: estimate vs actual
CSCO Revenue Trend
Quarterly revenue: estimate vs actual
CSCO Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 26 BEAT FY | $1.17 | $1.22 | +4.37% | $17.25B | +2.52% |
| FY Full Year | $4.28 | $4.33 | +1.22% | $63.33B | +0.66% |
| Q3 26 BEAT | $1.04 | $1.06 | +2.29% | $15.84B | +1.80% |
| Q2 26 BEAT | $1.02 | $1.04 | +1.75% | $15.35B | +1.49% |
| Q1 26 BEAT | $0.98 | $1.00 | +1.86% | $14.88B | +0.72% |
| Q4 25 BEAT FY | $0.98 | $0.99 | +0.99% | $14.67B | -0.59% |
| FY Full Year | $3.79 | $3.81 | +0.59% | $56.65B | +0.06% |
| Q3 25 BEAT | $0.92 | $0.96 | +4.64% | $14.15B | +0.65% |