Cisco (CSCO) · Fiscal Q1 2027 · Form 8-K filed Nov 12, 2026
Shares: +2.2% after hours (as of 4:21 PM ET)
| Key figure | This quarter |
|---|---|
| Revenue | $18.52 billion |
| Net income (GAAP) | $4.55 billion |
| Diluted EPS (non-GAAP) | $1.40 |
| Gross margin | 63.7% |
| Operating margin (GAAP) | 30.2% |
| Operating cash flow | $4.36 billion |
Results
Revenue was $18.5 billion, up from $14.9 billion a year earlier.
GAAP net income was $4.6 billion, up from $2.9 billion a year earlier.
Non-GAAP diluted EPS was $1.40, up from $1.00 a year earlier.
Shares were up 2.2% in after-hours trading after the report.
Margins and cash flow
Total gross margin was 63.7%. Product gross margin was 61.8% and services gross margin was 70.9%.
GAAP operating income was $5.6 billion, with a GAAP operating margin of 30.2%.
Net cash from operating activities was $4.4 billion, up from $3.2 billion a year earlier.
Guidance
For the second quarter of fiscal 2027, Cisco expects revenue of $18.0 billion to $18.2 billion. It puts GAAP EPS at $1.07 to $1.09.
For all of fiscal 2027, it expects revenue of $74.8 billion to $75.8 billion. It puts GAAP EPS at $4.38 to $4.44.
What else stood out
- Networking product revenue grew 43%. Security grew 7%, Collaboration 8% and Observability 2%.
- Cisco raised its fiscal 2027 outlook for AI infrastructure revenue from hyperscalers to $9B. That is more than double the fiscal 2026 total.
- Cisco returned $3.7 billion to stockholders through buybacks and dividends.
- It declared a quarterly dividend of $0.42 per share, payable January 20, 2027.
- Past quarters show steady growth. Revenue rose from $14.9 billion in the October 2025 quarter to $15.8 billion in the April 2026 quarter. GAAP diluted EPS rose from $0.72 to $0.85 over the same span.
