Cisco reported a strong quarter with significant growth in AI orders, security, and shareholder returns. Key challenges include a decline in networking revenue and potential impacts from proposed tariffs. Overall, the positive aspects outweigh the negatives, indicating strong business momentum.

Company Guidance

In the second quarter of fiscal year 2025, Cisco reported robust financial performance, with revenue reaching $14 billion, representing a 9% year-over-year increase. The company achieved non-GAAP net income of $3.8 billion and earnings per share of $0.94, surpassing the high-end of its guidance range. Key growth drivers included a 29% rise in new product orders, double-digit growth in annualized recurring revenue, and subscription revenue, which constituted 56% of total revenue. Cisco's AI infrastructure orders with webscalers exceeded $350 million in Q2, contributing to a year-to-date total of approximately $700 million, with expectations to surpass $1 billion by fiscal year-end. Additionally, Cisco returned $2.8 billion to shareholders and announced a dividend increase, alongside a $15 billion share repurchase authorization. Looking ahead, Cisco provided guidance for Q3 revenue between $13.9 billion and $14.1 billion, with expectations for fiscal year 2025 revenue to range from $56 billion to $56.5 billion.

Strong Financial Performance

Revenue, margins, and earnings per share all came in at or above the high-end of guidance ranges. Total revenue was $14 billion, up 9% year-over-year. Non-GAAP net income was $3.8 billion, and non-GAAP earnings per share was $0.94.

Robust AI Infrastructure Orders

AI infrastructure orders with web scalers in Q2 surpassed $350 million, bringing the year-to-date total to approximately $700 million. Cisco is on track to exceed $1 billion of AI infrastructure orders in fiscal year '25.

Record Order Growth

New product orders grew 29%, up 11% organically when excluding Splunk. Enterprise product orders were up 27%, and Service Provider & Cloud product orders soared 75%.

Significant Security Growth

Security orders more than doubled, driven by advanced data management, analytics, and threat detection capabilities from Splunk. Total security was up 117%, excluding Splunk, security grew 4%.

Substantial Shareholder Returns

Returned $2.8 billion in value to shareholders in Q2, totaling $6.4 billion year-to-date. Announced an increase to Cisco’s dividend, and the Board authorized an additional $15 billion in share repurchases.

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Cisco Systems (CSCO) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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CSCO Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 14, 2025	2025 (Q3)	0.92 / -	0.88	―	―	―
Feb 12, 2025	2025 (Q2)	0.91 / 0.94	0.87	8.05% (+0.07)
Nov 13, 2024	2025 (Q1)	0.87 / 0.91	1.11	-18.02% (-0.20)
Aug 14, 2024	2024 (Q4)	0.85 / 0.87	1.14	-23.68% (-0.27)
May 15, 2024	2024 (Q3)	0.83 / 0.88	1	-12.00% (-0.12)
Feb 14, 2024	2024 (Q2)	0.84 / 0.87	0.88	-1.14% (-0.01)
Nov 15, 2023	2024 (Q1)	1.03 / 1.11	0.86	29.07% (+0.25)
Aug 16, 2023	2023 (Q4)	1.06 / 1.14	0.83	37.35% (+0.31)
May 17, 2023	2023 (Q3)	0.97 / 1.00	0.87	14.94% (+0.13)
Feb 15, 2023	2023 (Q2)	0.85 / 0.88	0.84	4.76% (+0.04)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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CSCO Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 12, 2025	$62.53	$63.84	+2.09%
Nov 13, 2024	$58.78	$57.53	-2.13%
Aug 14, 2024	$44.79	$47.84	+6.81%
May 15, 2024	$48.54	$47.24	-2.68%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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