Cisco says pleased with execution on AI opportunity

Says total product orders in Q4 grew 7% year over year with solid growth across all geographies despite a complex environment. Says there is strong interest from customers in the new family of Cisco (CSCO) Cat9K smart switches. Says while has some clarity on tariffs, still operating in a complex environment. Says Q1 and FY26 guide assumes current tariffs and exemptions remain in place through 2026. Says these include the following: China at 30% partially offset by an exemption for semiconductors and certain electronic components, Mexico at 25% and Canada at 35%. Comments taken from Q4 earnings conference call.