Cisco's Q4 earnings call reflected strong financial performance with significant growth in AI infrastructure orders and solid overall product orders. However, challenges such as a decline in public sector orders and flat services revenue tempered the positive results. The company demonstrated robust innovation and strategic partnerships, positioning itself well for future growth, but certain segments like security still face growth challenges.

Company Guidance

During Cisco's Fourth Quarter and Fiscal Year 2025 Financial Results Conference Call, the company provided guidance for the upcoming fiscal year 2026, highlighting several key metrics. Cisco expects revenue to be in the range of $59 billion to $60 billion, with a non-GAAP earnings per share between $4 and $4.06. For the first quarter of fiscal year 2026, the company anticipates revenue to range from $14.65 billion to $14.85 billion, with a non-GAAP operating margin expected between 33% and 34%. The non-GAAP gross margin is projected to be between 67.5% and 68.5%, while the non-GAAP earnings per share is estimated to fall between $0.97 and $0.99. Cisco also emphasized its focus on leveraging AI opportunities, expecting significant contributions from AI infrastructure, enterprise clouds, and AI network connectivity to drive growth in fiscal year 2026.

Strong Financial Performance

Cisco reported a total revenue of $14.7 billion for Q4, up 8% year-over-year. Non-GAAP net income was $4 billion, up 12%, and non-GAAP earnings per share was $0.99, up 14%.

Record AI Infrastructure Orders

Record AI infrastructure orders from webscale customers exceeding $800 million in Q4, bringing the fiscal year total to over $2 billion, more than double the original $1 billion target.

Robust Product Orders Growth

Total product orders in Q4 grew 7% year-over-year with strong growth in service provider and cloud customers, up 49% year-over-year.

Strong Cash Flow and Shareholder Return

Cisco returned $2.9 billion to shareholders in Q4 through share repurchases and dividends, totaling $12.4 billion for fiscal year 2025, representing 94% of free cash flow.

Continued Innovation and AI Integration

Cisco introduced over 20 new offerings at Cisco Live U.S. to support AI-ready data centers and workplaces, including integrations with NVIDIA.

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
Nov 12, 2025	2026 (Q1)	0.98 / -	0.91	―	―	―
Aug 14, 2025	2025 (Q4)	0.98 / 0.99	0.87	13.79% (+0.12)
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)

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
Aug 14, 2025	$69.30	$66.20	-4.47%
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%

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.