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Jan 24
Cisco Q2 2026 Earnings Report
Cisco reported double-digit revenue and earnings growth in the second quarter, exceeding guidance with strong margin performance.
Key Takeaways
Cisco delivered record Q2 FY2026 revenue of $15349000000, up 10% year over year, with GAAP net income of $3175000000 and GAAP EPS of $0.80. Growth was driven by strong Networking performance and broad-based demand across geographies.
Revenue increased 10% year over year to $15349000000.
GAAP EPS rose 31% to $0.80, while non-GAAP EPS reached $1.04.
Networking revenue grew 21% year over year.
Operating margin expanded to 24.6% GAAP and 34.6% non-GAAP.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Cisco guided for continued revenue growth in Q3 FY2026 with stable margins and reaffirmed full-year FY2026 revenue and EPS expectations.
Positive Outlook
- Q3 revenue expected between $15400000000 and $15600000000.
- Non-GAAP EPS guidance of $1.02 to $1.04 for Q3.
- FY2026 revenue guidance of $61200000000 to $61700000000.
- FY2026 non-GAAP EPS guidance of $4.13 to $4.17.
- Strong demand trends across AI infrastructure and networking.
Challenges Ahead
- Guidance includes estimated impact of tariffs.
- Services revenue declined year over year.
- Security revenue decreased 4% year over year.
- Cash flow from operations declined compared to prior year quarter.
- Exposure to macroeconomic and geopolitical uncertainties.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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