Cisco Reports Record Earnings for Q4 and FY 2026

12.08.2026 · By Bernal Fintech Markets Desk

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Cisco Systems (CSCO) reported record fourth-quarter and fiscal year 2026 earnings, exceeding guidance with strong revenue and margin growth. The company reported Q4 revenue of $17.3 billion, up 18% year over year, and FY 2026 revenue of $63.3 billion, up 12% year over year. Cisco also reported strong operating margins and earnings per share, with GAAP EPS of $0.97 and Non-GAAP EPS of $1.22 for Q4, representing 52% and 23% year-over-year increases, respectively.

Cisco’s FY 2026 results showed a GAAP operating margin of 24.3% and a Non-GAAP operating margin of 34.8%, reflecting strong execution and operating efficiency. The company also reported significant momentum in AI infrastructure demand, with $4 billion in orders taken in Q4, bringing the total for FY 2026 to $9.3 billion. Networking product orders grew 40% year over year in Q4, marking the eighth consecutive quarter of double-digit growth.

Key Financial Highlights

Q4 Revenue: $17.3 billion, up 18% year over year.
FY 2026 Revenue: $63.3 billion, up 12% year over year.
GAAP EPS (Q4): $0.97, up 52% year over year.
Non-GAAP EPS (Q4): $1.22, up 23% year over year.
GAAP Operating Margin (Q4): 24.7%.
Non-GAAP Operating Margin (Q4): 35.9%.

Context and Industry Trends

Cisco’s strong performance is driven by broad-based demand for its technology, with a networking supercycle underway. The company reported Q4 total product orders up 35% year over year, with double-digit growth across every geography and customer market. Networking product orders grew 40% year over year in Q4, marking the eighth consecutive quarter of double-digit growth. Cisco also noted significant momentum and raised expectations for AI infrastructure from hyperscalers, with $4 billion of orders taken in Q4.

Cisco’s FY 2026 results also showed strong growth in AI infrastructure demand, with $9.3 billion in orders for the fiscal year. The company expects FY 2027 revenue of $72.2 billion to $73.4 billion and GAAP EPS of $4.00 to $4.06, with Non-GAAP EPS of $5.05 to $5.11. These figures reflect continued confidence in Cisco’s ability to deliver on AI demand and maintain its leadership in the networking and infrastructure space.

What it means for markets

Cisco’s record earnings and strong guidance for FY 2027 highlight the company’s robust position in the AI and networking sectors. The results are likely to bolster investor confidence and support the stock’s performance, particularly as the company continues to benefit from the ongoing networking supercycle and growing demand for AI infrastructure.