Cisco Systems (CSCO) Earnings Date & Reports

Key Takeaways

• Cisco reported record revenue of $15.8 billion for the third quarter of fiscal 2026, up 12% year over year.
• GAAP earnings per share reached $0.85, a 37% increase from the prior year.
• Non-GAAP EPS of $1.06 exceeded analyst consensus estimates of approximately $1.00 to $1.03.
• Gross margins expanded, with GAAP gross margin at 63.6% and non-GAAP at 66.0%.
• Results surpassed the high end of company guidance amid strong demand for AI infrastructure.
• Shares rose sharply following the release, reflecting positive investor reaction.

Earnings Context and Why It Matters

Cisco Systems reports quarterly results based on its fiscal year ending in July. The third quarter of fiscal 2026 covered the period ended April 25, 2026. This report is significant because it highlights the company’s progress in its AI and networking businesses during a period of elevated investor focus on technology spending. Strong results can influence sentiment toward the broader networking sector and provide insight into enterprise and hyperscale demand trends.

Reported Results

Cisco delivered revenue of $15.8 billion, representing 12% year-over-year growth and exceeding the consensus estimate of $15.56 billion. GAAP net income rose to $3.37 billion, or $0.85 per share, up from $2.49 billion, or $0.62 per share, a year earlier. Non-GAAP earnings per share came in at $1.06, beating estimates. Both GAAP and non-GAAP operating margins improved, reaching 25.0% and 34.2%, respectively. The company also raised its full-year fiscal 2026 revenue and AI orders outlook, citing robust hyperscaler demand.

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Market Reaction and Investor Sentiment

Following the May 13, 2026 release, Cisco shares climbed as much as 15% in after-hours trading. Investors responded positively to the double-digit revenue and earnings growth that topped guidance and Wall Street forecasts. The upward revision to fiscal 2026 AI-related expectations added further support, signaling confidence in sustained demand for the company’s networking solutions.

Forward Outlook and Key Factors to Monitor

Investors will focus on Cisco’s upcoming fourth-quarter fiscal 2026 results, scheduled for release on August 12, 2026. Management raised full-year revenue guidance to a range of $62.8 billion to $63.0 billion and updated non-GAAP EPS expectations to $4.27 to $4.29. Key areas to watch include the pace of AI infrastructure orders, which the company now expects to reach $9 billion for the full year, and any updates on gross margin trends.

Broader industry dynamics, such as enterprise IT spending and hyperscale capital expenditure plans, will also influence performance. Supply chain conditions and the impact of tariffs remain relevant considerations in the company’s guidance. Monitoring sequential revenue growth and commentary on backlog conversion will provide additional clarity on demand sustainability heading into fiscal 2027.

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