Companies /Technology

Cisco Systems Inc

NASDAQ: CSCO Communication Equipment
$111.70
▲ $4.26 (+3.97%) today
Markets open · 3:27pm ET

Q4 2026 Earnings

Reported Aug 12, 2026, 4:07pm ET · SEC source
$1.22
Beat +4.38%
EPS · est. $1.17 Adjusted
$17.3B
Beat +2.52%
Revenue · est. $16.8B
6 quarters
Consecutive EPS beats

Market Reaction

% change · around the report
−12%−8%−4%0Aug 12Aug 13report 4:07pm ETearnings+0.7%−10.9%
−12%−8%−4%0Aug 12Aug 13earnings+0.7%−10.9%
CSCO −10.9%S&P 500 +0.7%
−12%−8%−4%0Aug 12Aug 13report 4:07pm ETearnings+1.2%−10.9%
−12%−8%−4%0Aug 12Aug 13earnings+1.2%−10.9%
CSCO −10.9%NASDAQ +1.2%
−8%−4%0+4%Aug 11Aug 20report 4:07pm ETearnings−1.2%−8.1%
−8%−4%0+4%Aug 11Aug 20earnings−1.2%−8.1%
CSCO −8.1%S&P 500 −1.2%
−8%−4%0+4%Aug 11Aug 20report 4:07pm ETearnings−1.6%−8.1%
−8%−4%0+4%Aug 11Aug 20earnings−1.6%−8.1%
CSCO −8.1%NASDAQ −1.6%
−8.40%
Day of report
−1.58%
Next session
−3.42%
One week

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 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

“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.”

Cisco Systems CEO, on the earnings call

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 · SEC filings Q4 2025 Q4 2026
$0$5.0B$10.0B$15.0B$14.7B$17.3BRevenue$9.3B$11.1BGross Profit$3.1B$4.3BOperating Income$2.6B$3.9BNet Income
$0$5.0B$10.0B$15.0BRevenueGross ProfitOperating IncomeNet Income

CSCO Revenue by Segment

Networking$9.8B+28.0%
Services$3.8B+0.2%
Security$2.2B+14.0%
Collaboration$1.2B+12.0%
Observability$275.0M+6.0%

CSCO Revenue by Geography

Americas$10.4B+18.0%
EMEA$4.4B+19.0%
Asia Pacific$2.5B+14.0%

Figures from SEC filings and company reports. Not investment advice.