CISCO REPORTS THIRD QUARTER EARNINGS

▤ Summary

Cisco reported record Q3 revenue of $15.8 billion, up 12% year over year, with GAAP EPS of $0.85 (up 37%) and non-GAAP EPS of $1.06 (up 10%). Product orders and networking demand were strong—total product orders rose 35% and networking product revenue grew 25%—and Cisco raised its FY26 orders and revenue expectations driven in part by hyperscaler AI infrastructure demand. The company returned $2.9 billion to shareholders via dividends and buybacks, declared a $0.42 quarterly dividend, and announced a restructuring plan with up to $1 billion in charges to invest in silicon, optics, security and AI. Cisco provided Q4 and full-year FY26 guidance and emphasized its positioning as critical infrastructure for the AI era.

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