Cisco's earnings call highlighted strong financial performance and significant growth in AI infrastructure orders, exceeding expectations. Strategic partnerships and shareholder returns were also positive points. However, ongoing tariff uncertainties and specific sector challenges, such as in servers and the public sector, present concerns.

Company Guidance -

Q4 2025

During Cisco's Third Quarter Fiscal Year 2025 Financial Results Conference Call, the company provided guidance for its fourth quarter and fiscal year 2025. Cisco expects fourth-quarter revenue to be between $14.5 billion and $14.7 billion, with a non-GAAP gross margin ranging from 67.5% to 68.5%. The non-GAAP operating margin is projected to be between 33.5% and 34.5%, and non-GAAP earnings per share are expected to be between $0.96 and $0.98. For the full fiscal year 2025, Cisco anticipates revenue in the range of $56.5 billion to $56.7 billion, with non-GAAP earnings per share projected to range from $3.77 to $3.79. The guidance reflects assumptions about tariffs remaining in place and highlights uncertainties due to the macroeconomic environment.

Record Order Growth

Total product orders grew 20% year-over-year, or 9% on an organic basis, demonstrating strong demand across various sectors despite an uncertain macro environment.

AI Infrastructure Orders Surpass Expectations

AI infrastructure orders from web-scale customers exceeded $600 million in Q3, bringing the year-to-date total to over $1 billion, surpassing the original fiscal year '25 target a quarter early.

Strong Shareholder Returns

Cisco returned $3.1 billion in capital to shareholders in Q3 through share repurchases and dividends, with a total of $9.6 billion returned year-to-date.

Security Orders Growth

Security orders grew in high double digits in Q3, including a large multiyear deal with a major financial services company for Splunk's security and observability platforms.

New Strategic Partnerships

Cisco announced new partnerships and investments in AI infrastructure, including collaborations with NVIDIA, Saudi Arabia's HUMAIN, and others to enhance AI capabilities.

Positive Financial Performance

Total revenue was $14.1 billion, up 11% year-over-year, with non-GAAP earnings per share at $0.96, exceeding guidance expectations.

Cisco Systems (CSCO) Earnings, Revenues Date & History

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CSCO Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 13, 2025	2025 (Q4)	0.98 / -	0.87	―	―	―
May 14, 2025	2025 (Q3)	0.92 / 0.96	0.88	9.09% (+0.08)
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)

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

CSCO Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 14, 2025	$60.92	$63.88	+4.86%
Feb 12, 2025	$61.74	$63.04	+2.11%
Nov 13, 2024	$58.04	$56.80	-2.14%
Aug 14, 2024	$44.23	$47.23	+6.78%

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.