Cisco FY2026 revenue $63.33 billion, up 12%; guidance points higher
Verdict: Bullish. Cisco closed fiscal 2026 with $63.33 billion of revenue, up 12%, and $3.33 of GAAP earnings per share, up 31%, then guided fiscal 2027 revenue to $72.2–$73.4 billion. Read the scorecard with two filters: how much of the profit came from one-off investment gains, and how much of the growth is concentrated in AI-driven hyperscaler orders.
1 · Expected vs. Actual
Free preview belowFull-year GAAP net income was $13.27 billion and GAAP EPS $3.33, up 30% and 31% respectively, and fourth-quarter GAAP EPS of $0.97 was up 52%. That quarter included $0.87 billion of gains on investments inside other income, so the clean improvement is smaller than the headline. Note also the GAAP-to-non-GAAP gap: non-GAAP EPS was $1.22 in the quarter and $4.33 for the year, with share-based compensation alone worth $0.95 of the full-year difference.
Cisco reported $63.33 billion of fiscal 2026 revenue, a 12% increase, with the fourth quarter alone up 18% to $17.25 billion. Networking, the largest product group, grew 28% in the quarter to $9.79 billion, while services were flat at $3.79 billion. So growth is product-led and concentrated in networking, not spread evenly across the portfolio.
For the current quarter Cisco guides revenue of $18.0 billion to $18.2 billion, non-GAAP EPS of $1.32 to $1.34 and non-GAAP gross margin of 65% to 66%, a little below the 66.3% just delivered. For fiscal 2027 the range is $72.2 billion to $73.4 billion of revenue and $5.05 to $5.11 of non-GAAP EPS, a revenue midpoint about $9.5 billion above fiscal 2026 actual. Last quarter management guided to $16.8 billion and shipped $17.25 billion, so the bar has been set beatably.
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Figures on this page come from the company's original SEC filings. The analysis is generated automatically and checked against validation rules, but may still contain errors or omissions. Not investment advice. · Generated 2026-09-17
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