Andrew (for David Vogt)'s questions to Cisco Systems Inc (CSCO) leadership • Q3 2025
Question
Andrew, on behalf of David Vogt at UBS, asked about the composition of the $600 million in AI orders, specifically whether they were concentrated or diffuse, and requested an estimate of the tariff impact on Q4 gross margins.
Answer
CEO Chuck Robbins described the AI orders as fairly balanced, noting that three of the top six web scalers grew orders by triple digits and that acceleration is visible across all of them. CFO Scott Herren reiterated that the Q4 guidance includes all known tariff impacts but declined to quantify the specific basis point impact due to the fluid nature of the situation.