Citable filing context

CSCO filing events and research context

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CSCO's research view summarizes recent SEC filing context, starting with earnings from May 13, 2026.

CSCO filing events and research context
FiledItemContext
May 13, 2026earningsCisco reported its fiscal third quarter 2026 earnings results.
May 1, 2026management_changeM. Victoria Wong retired as SVP and Chief Accounting Officer of Cisco.
Apr 6, 2026management_changeDaniel H. Schulman resigned from Cisco's Board of Directors, effective May 21, 2026.
May 13, 2026Guidance: ai_infrastructure_orders9.00 to 9.00
May 13, 2026Guidance: ai_infrastructure_revenue4.00 to 4.00
May 13, 2026Guidance: gaap_eps3.16 to 3.21
May 19, 2026mda_quarterlyCisco reported strong third-quarter fiscal 2026 results, with total revenue increasing 12% to $15.84 billion, driven by a 17% rise in product revenue, while services revenue declined 1%. Diluted earnings per share surged 37% to $0.85, reflecting revenue growth and a 2.4 percentage point improvement in operating income margin to 25.0%. Gross margin, however, decreased 2.0 percentage points to 63.6%, primarily due to negative product mix and higher memory costs, partially offset by productivity gains. Product revenue growth was led by Networking, which increased 25%, particularly in AI Infrastructure and Campus Networking solutions. Observability grew 3% (ThousandEyes), while Security remained flat (declines in prior-gen products and Splunk offset by new offerings) and Collaboration declined 1% (Webex Suite offset by devices/contact center). Cisco is integrating AI across its networking, security, collaboration, and observability portfolios. The company significantly increased inventory and purchase commitments, up 93% combined, to secure supply for Cisco Silicon One and other products for hyperscalers, including memory components, leading to higher supply chain exposure. A new restructuring plan, with up to $1 billion in charges, aims to reinvest in silicon, optics, security, and AI, with no material net cost savings expected. Liquidity remains strong, with $16.64 billion in cash and investments, and the company returned $4.9 billion in dividends and $4.6 billion in stock repurchases over nine months.
Feb 17, 2026mda_quarterlyCisco delivered strong second-quarter fiscal 2026 results, with total revenue increasing 10% to $15.35 billion and diluted EPS rising 31% to $0.80, driven by robust product revenue growth of 14% and improved operating margins. Operating income as a percentage of revenue increased 2.3 percentage points to 24.6%. Product gross margin saw a slight increase due to productivity and lower amortization, despite negative impacts from product mix and pricing, and higher memory costs. Networking revenue surged 21%, primarily fueled by strong demand for AI Infrastructure and Campus Networking solutions, which are expected to maintain positive momentum. Conversely, Security revenue declined 4%, largely due to a shift in Splunk offerings from on-premise to cloud subscriptions and declines in prior-generation products, a trend anticipated to continue. Collaboration revenue grew 6%, led by Devices, Cloud Contact Center, and CPaaS. The company faces challenges from memory constraints, costs, and trade policy, leading to significantly increased inventory and purchase commitments, particularly for Cisco Silicon One and memory, to meet hyperscaler demand. Total remaining performance obligations remained flat at $43.4 billion. Cisco returned $3.35 billion through stock repurchases and $3.23 billion in dividends over six months, aiming to return at least 50% of free cash flow to shareholders. Cash provided by operating activities for the six months was $5.03 billion, impacted by a $2.3 billion U.S. transition tax payment.

Source: SEC EDGAR filing text and events; period May 13, 2026; filed May 13, 2026.

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