Earnings summaries and quarterly performance for CISCO SYSTEMS.
Executive leadership at CISCO SYSTEMS.
Chuck Robbins
Detailed
Chief Executive Officer
CEO
Dev Stahlkopf
Detailed
Executive Vice President and Chief Legal Officer
Jeetu Patel
Detailed
President and Chief Product Officer
Mark Patterson
Detailed
Executive Vice President and Chief Financial Officer
Thimaya Subaiya
Detailed
Executive Vice President, Operations
Board of directors at CISCO SYSTEMS.
Research analysts who have asked questions during CISCO SYSTEMS earnings calls.
Aaron Rakers
Wells Fargo
6 questions for CSCO
Also covers: AAPL, AMD, ANET +19 more
Amit Daryanani
Evercore
6 questions for CSCO
Also covers: AAPL, AKAM, ANET +22 more
James Fish
Piper Sandler Companies
6 questions for CSCO
Also covers: AKAM, ANET, BAND +15 more
Karl Ackerman
BNP Paribas
6 questions for CSCO
Also covers: ANET, AVGO, CIEN +15 more
Meta Marshall
Morgan Stanley
6 questions for CSCO
Also covers: ANET, AXON, BAND +30 more
Simon Leopold
Raymond James
6 questions for CSCO
Also covers: AAOI, ANET, ATEN +17 more
Tal Liani
Bank of America
6 questions for CSCO
Also covers: ANET, CHKP, CIEN +11 more
David Vogt
UBS Group AG
5 questions for CSCO
Also covers: AAPL, ANET, CDW +12 more
Samik Chatterjee
JPMorgan Chase & Co.
5 questions for CSCO
Also covers: AAPL, ANET, APH +32 more
Michael Ng
Goldman Sachs
4 questions for CSCO
Also covers: AAPL, ANET, AXON +20 more
Adrienne Colby
Citigroup
3 questions for CSCO
Also covers: CIEN
Ben Reitzes
Melius Research LLC
3 questions for CSCO
Also covers: AAPL, AMD, AMKR +9 more
Matthew Niknam
Deutsche Bank
3 questions for CSCO
Also covers: AMT, ANET, CCI +9 more
Antoine Chkaiban
New Street Research
2 questions for CSCO
Also covers: AMD, ANET, MBLY
Ben Bollin
Cleveland Research
2 questions for CSCO
Also covers: NTNX, SAIL
Joseph Cardoso
JPMorgan Chase & Co.
2 questions for CSCO
Also covers: AXON, CALX, CIEN +9 more
Mike Ng
Goldman Sachs
2 questions for CSCO
Also covers: AXON, CLS, FFIV +1 more
Sebastien Naji
William Blair
2 questions for CSCO
Also covers: ALAB, ANET, ARM +1 more
Benjamin Reitzes
Melius Research
1 question for CSCO
Also covers: AAPL, AMD, AMKR +7 more
George Notter
Jefferies
1 question for CSCO
Also covers: AAOI, ADTN, ANET +18 more
Sebastien Cyrus Naji
William Blair & Company, L.L.C.
1 question for CSCO
Also covers: ANET, ARM, FFIV
Recent press releases and 8-K filings for CSCO.
Cisco outlines AI infrastructure growth and campus refresh pipeline
CSCO
- Cisco exceeded its $1 billion AI infrastructure revenue target in FY 2025, delivering $2 billion, and secured $1.3 billion in Q1 FY 2026 hyperscaler orders, targeting > $4 billion in orders and $3 billion in revenue for FY 2026.
- The Silicon One platform is driving hyperscaler wins, shifting the mix to two-thirds systems from optics, and Cisco plans to launch the new P200 chip and 8223 system for scale-across applications in Spring FY 2026.
- Enterprise networking orders excluding hyperscale grew 9% in Q1, with a campus refresh viewed as a multi-year, multi-billion-dollar opportunity fueled by end-of-support equipment and new AI/security requirements.
- The combined NeoCloud, Sovereign, and enterprise AI segment has recorded over $200 million in orders and maintains a $2.5 billion pipeline; sovereign cloud deployments are expected to ramp meaningfully in H2 FY 2026 and accelerate in FY 2027.
- Cisco’s security business—now two-thirds new or refreshed products—is on track for double-digit growth, though the shift of Splunk workloads to a cloud-ratable revenue model delays some near-term recognition.
6 days ago
Cisco outlines AI infrastructure and networking growth at Barclays conference
CSCO
Product Launch
Guidance Update
New Projects/Investments
- Cisco’s AI infrastructure revenue more than doubled to $2 billion in FY 2025, with $1.3 billion of Q1 FY 2026 orders from top hyperscalers; the company is targeting > $4 billion in orders and $3 billion in revenue in FY 2026.
- Adoption of Silicon One drove a shift from two-thirds optics to two-thirds systems in H2 FY 2025; a new P200 chip for “scale across” deployments is expected in spring FY 2026.
- The combined NeoCloud, sovereign cloud and enterprise AI pipeline exceeds $2.5 billion, with over $200 million in orders, ramping in H2 FY 2026 and materially in FY 2027.
- Networking orders grew 13% overall and 9% excluding hyperscale, marking five consecutive quarters of double-digit growth; the multiyear campus refresh opportunity is driven by AI, security and aging equipment.
- Security growth to double digits is delayed by legacy-product drag and cloud-revenue timing, despite two-thirds of the portfolio being new products (3,000 new customers) and next-gen firewalls launching in Q2.
6 days ago
Cisco outlines AI infrastructure surge and network refresh opportunities
CSCO
Revenue Acceleration/Inflection
Guidance Update
- Cisco’s AI infrastructure business more than doubled FY25 revenue to $2 billion versus a $1 billion target and secured $1.3 billion of orders from top hyperscalers in Q1 FY26, targeting over $4 billion in orders and $3 billion in revenue in FY26.
- AI product mix is shifting from two-thirds optics in early FY25 to two-thirds systems in H2 FY25, driven by strong Silicon One uptake; Cisco plans to roll out the P200 chip and associated 8223 system in spring FY26.
- Overall networking orders grew 13% in Q1 FY26 (9% ex-hyperscale), marking five consecutive quarters of double-digit networking growth and initiating a multi-year, multi-billion-dollar campus refresh cycle amid sizeable end-of-support upgrades.
- Cisco’s security portfolio is two-thirds new/ refreshed products (3,000 new customers in 18 months), with legacy products still weighing growth and Splunk cloud revenue being ratably recognized, yet the full-year guide was raised by $1.1 billion independent of security performance.
6 days ago
Cisco closes at record high
CSCO
- Cisco closed at a record high of $80.25 on Dec. 10, 2025, surpassing its split-adjusted dot-com peak from March 27, 2000.
- The stock is up about 50.9% from its 52-week low of $53.19 on April 8, 2025, with intraday highs above $80 and volumes near 21.2 million shares.
- Market capitalization reached approximately $317 billion, reflecting strong investor interest amid the AI spending boom.
- Analysts attribute the rally to Cisco’s shift toward software and services through acquisitions of Webex, AppDynamics, Duo, and Splunk.
6 days ago
Cisco outlines optical segments and AI-driven demand acceleration at UBS 2025 Global Technology and AI Conference
CSCO
- Cisco’s optical business includes DWDM systems, short-distance optics, and Acacia coherent technology; FY 2025 optics demand exceeded forecasts and the FY 2026 optics forecast was raised post-Q1 due to AI-driven hyperscaler orders
- Scale-across AI networks bypass traditional WAN, linking scale-out systems directly and providing up to 10× greater capacity than WAN, while requiring deep-buffer routing to support high-capacity, low-flap interconnects
- Cisco expects a ~1/3 optics to 2/3 switching revenue split in its AI infrastructure business, though quarterly mix can swing based on customer deployment sequencing and ZR optic adoption
- Since December 2019, Cisco’s component business model allows hyperscalers to purchase disaggregated hardware, software, Silicon One ASICs, and Acacia DSPs, positioning the company as an open AI infrastructure provider
Dec 2, 2025, 5:55 PM
Cisco highlights surge in AI-driven optics demand at UBS conference
CSCO
Guidance Update
Revenue Acceleration/Inflection
- Cisco’s Optical Systems and Optics Group spans DWDM chassis, short-reach transceivers and Acacia coherent technology, serving hyperscalers and top service providers.
- Acacia-driven optics demand outstripped Cisco’s FY25 forecast, and the company has already raised its FY26 optics outlook following a strong Q1 performance.
- Cisco distinguishes traditional WAN-based DCI from scale-across networking, which bypasses the WAN to link scale-out data-center networks with roughly 10× the capacity and requires deeper buffers for reliability.
- Management positions Cisco as a leading provider of an open AI infrastructure stack, leveraging disaggregated components and partnerships (e.g., AMD, Silicon One) to meet hyperscaler requirements.
Dec 2, 2025, 5:55 PM
Cisco highlights optics surge and AI infrastructure growth
CSCO
Guidance Update
Product Launch
- Cisco’s Acacia coherent optics business saw FY25 demand well above original forecasts, and FY26 guidance was raised after Q1 owing to continued hyperscaler and service-provider uptake.
- Cisco differentiates traditional data center interconnect (DCI) from “scale across” networks, which bypass WAN constraints to deliver 10× more capacity for AI workloads by linking scale-out clusters directly.
- Since December 2019, Cisco has operated a component business model, allowing hyperscalers to buy hardware, software, silicon (including DSPs and SerDes), and optics separately to support disaggregated architectures.
- The company’s campus refresh is in early stages with new Catalyst switches and Wi-Fi access points, initiating a gradual, multi-year upgrade cycle that already shows better adoption than prior refreshes.
Dec 2, 2025, 5:55 PM
Cisco outlines AI and campus refresh at Wells Fargo TMT Summit
CSCO
Product Launch
Guidance Update
- Cisco secured $1.3 billion in Q1 AI infrastructure orders from hyperscalers and targets $4 billion+ in orders and $3 billion+ in AI revenue for FY25, with optics and Silicon One‐based systems split roughly 50/50.
- The AI pipeline—including sovereign and neo-cloud—exceeds $2 billion, with initial orders in the low hundreds of millions and material build-outs in FY2027 (e.g., Humane, G42).
- A multi-year, multi-billion-dollar campus refresh is underway, driven by end-of-support risks, security needs, AI traffic, and Wi-Fi 7, supported by new campus switches, routers, firewalls, IoT devices, and embedded AI/security features.
- Silicon One, Cisco’s strategic in-house silicon portfolio, now spans five product families across hyperscale, enterprise, and service providers, aiming for all high-power systems on Silicon One by FY2029.
- Security revenue dipped 2% as customers shift from on-prem to ratable cloud Splunk offers, but product RPO and ARR grew double digits; current guidance reflects this transition headwind.
Nov 18, 2025, 5:30 PM
Cisco CFO outlines growth drivers at Wells Fargo’s 9th Annual TMT Summit
CSCO
- Cisco is prioritizing AI networking and infrastructure, securing $1.3 billion in hyperscaler orders in Q1 and targeting over $4 billion in orders and $3 billion in AI revenue for FY26.
- Its neo-cloud and sovereign AI pipeline has exceeded $2 billion, with initial orders in H2 FY26 and material deployments expected in FY27.
- The multi-year campus refresh—driven by end-of-support equipment, security risks, AI-driven traffic growth, Wi-Fi 7, and new switch portfolios—is viewed as a multi-billion-dollar opportunity.
- Security saw a 2% revenue decline in Q1 due to the shift from on-prem to cloud subscription for Splunk, though product ARR and RPO grew double-digits and mid-to-high-teens growth is anticipated by FY27.
- Cisco is committing all high-powered systems to its in-house Silicon One ASIC by FY29 to enhance supply-chain control and drive margin expansion.
Nov 18, 2025, 5:30 PM
Cisco outlines growth drivers at Wells Fargo TMT Summit
CSCO
Guidance Update
- Cisco reported $1.3 billion in Q1 AI infrastructure orders from hyperscalers, more than double its initial $1 billion FY25 target, following broad-based order growth across technologies.
- Cisco views tens of billions in pre-Cat 9K campus equipment as end-of-support risk, prompting a multi-year, multi-billion-dollar upgrade cycle; Q1 global campus networking orders rose 13% (9% excluding web scale), accelerating from Q4.
- Security revenue fell 2% in Q1 due to a mix shift from on-prem Splunk licensing to cloud offerings (ratable revenue), though product backlog and ARR grew double-digits, and Cisco added 250 new Splunk logos, expecting double-digit security growth by FY27.
- The pipeline for neo-cloud (including sovereign) and enterprise AI now exceeds $2 billion, with early orders in the low hundreds of millions and material build-outs expected in FY27 (e.g., Humane partnership).
- Silicon One underpins Cisco’s strategic edge, with five product families spanning scale-out, scale-across, enterprise, and service provider uses; the goal is to migrate all high-powered systems to Silicon One by FY29 for margin and supply-chain benefits.
Nov 18, 2025, 5:30 PM
Quarterly earnings call transcripts for CISCO SYSTEMS.
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