Cisco Systems, Inc. Earnings Recaps
Q3 2026
May 15, 2026
Cisco shares rallied 16.4% following Q3 results driven by significant upside in product orders and AI infrastructure demand, with broad-based growth across networking and hyperscaler segments clearly outperforming expectations.
Key takeaways
- Q3 revenue reached a record $15.8 billion, up 12% year-over-year, fueled by 17% growth in product revenue.
- Total product orders surged 35% year-over-year; excluding hyperscalers, orders still rose 19%, indicating strong underlying demand.
- AI infrastructure orders from hyperscalers hit $1.9 billion in Q3, with FY26 full-year expectations raised to ~$9 billion, 4.5x FY25.
- Networking products grew over 50%, led by triple-digit service provider routing and continued double-digit gains in campus switching, wireless (40%+ growth), and enterprise data center switching.
- Acacia optics business delivered its strongest quarter with over $1 billion in orders, positioning Cisco as a market leader in coherent pluggable optics.
Q2 2026
Feb 12, 2026
Cisco reported robust Q2 Fiscal Year 2026 results, with double-digit revenue and EPS growth driven by strong demand for AI infrastructure and networking solutions. The company is well-positioned for further growth, returning $3 billion in capital and increasing its dividend.
Key takeaways
- Q2 revenue increased 10% year-over-year, surpassing guidance, while product revenue grew 14%.
- Non-GAAP EPS rose 11%, outpacing revenue growth, reflecting strong operational efficiency.
- Total product orders surged 18% year-over-year, highlighting broad-based demand across sectors, including a 65% increase from service providers and cloud customers.
- Strong momentum in AI infrastructure orders with $2.1 billion booked in Q2, equaling FY '25 total orders.
- Continued innovation in Silicon One technology, including the launch of a 102.4 terabit per second chip, further strengthens Cisco's competitive edge in the market.