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Apr 26
Cisco Q3 2025 Earnings Report
Cisco posted solid third-quarter results with revenue, EPS, and margins exceeding guidance.
Key Takeaways
Cisco delivered strong performance in Q3 FY25, with $14.1B in revenue and $2.5B in net income. The company surpassed its AI infrastructure order target ahead of schedule, driven by growth across all geographic and product segments.
Revenue for Q3 FY 2025 was $14.1 billion, an increase of 11% year over year, surpassing the high end of their guidance.
GAAP EPS was $0.62 and Non-GAAP EPS was $0.96, both above the high end of their guidance range.
Product orders increased 20% year over year, with growth in all geographies and customer markets, and AI Infrastructure orders exceeded $600 million.
The company generated $4.1 billion in cash flow from operating activities and returned $3.1 billion to stockholders through share buybacks and dividends.
Cisco
Cisco
Cisco Revenue by Segment
Cisco Revenue by Geographic Location
Revenue by Segment
Networking Revenue
CapyFin.comSecurity Revenue
CapyFin.comCollaboration Revenue
CapyFin.comObservability Revenue
CapyFin.comServices Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comEMEA Revenue
CapyFin.comAPJC Revenue
CapyFin.com Forward Guidance
Cisco expects Q4 FY25 revenue between $14.5B and $14.7B, with continued margin strength and EPS growth, factoring in tariff impacts.
Positive Outlook
- AI Infrastructure orders reached $600M, achieving $1B goal one quarter early
- Revenue expected to grow further to $14.7B
- Strong operating and gross margin guidance maintained
- Non-GAAP EPS expected to improve to up to $0.98
- Disciplined execution and high cash generation support shareholder returns
Challenges Ahead
- Tariff impacts are included in margin and EPS guidance
- GAAP EPS growth moderates compared to previous quarters
- Rising operating expenses, especially non-GAAP, could pressure margins
- Stock repurchase program impacts cash reserves
- Geopolitical and macroeconomic uncertainties remain a risk to forecast
Revenue & Expenses
Visualization of income flow from segment revenue to net income