NASDAQ$CSCO

Cisco Systems Inc · Q4 2025 earnings

Q4 2025 earnings · · After market close · Investor relations

Briefing

Cisco reported fiscal Q4 2025 revenue of $14.7B with net income of $2.8B and non-GAAP diluted EPS of $0.71.

Fourth-quarter revenue was $14.7 billion for the period ended July 26, 2025, with net income of $2.8 billion; the earnings release highlighted AI infrastructure demand and recurring software revenue.

  • Fiscal Q4 revenue $14.7B; net income $2.8B.
  • Networking and security platforms benefit from AI data-center buildouts.
  • Recurring revenue and subscriptions increase visibility.
  • Management discussed FY2026 outlook and capital returns.

Headline financials

Total Revenue

$14.7B

Previous: $13.6B+7.8%
EPS (adj)

$0.71

Previous: $0.87-18.4%
Non-GAAP Gross Margin

68.4%

Previous: 67.9%+0.7%
Non-GAAP Operating Margin

34.3%

Previous: 32.5%+5.5%
Gross Margin GAAP

65.7%

Previous: 64.4%+2.0%
Operating Margin GAAP

23.5%

Previous: 19.2%+22.4%
Quarterly Dividend

$0.41

Previous: $0.40+2.5%
Product Revenue

$10.9B

Previous: $9.86B+10.4%
Services Revenue

$3.79B

Previous: $3.78B+0.1%
Remaining Performance Obligations

$43.5B

Previous: $41B+6.1%
Deferred Revenue

$28.8B

Previous: $28.5B+1.1%
Capital Expenditures

-$217M

Previous: -$198M-9.6%
Net Income

$2.8B

Previous: $2.2B+27.3%
Operating Income

$3.44B

Previous: $2.6B+32.4%
Gross Profit

$9.64B

Previous: $8.78B+9.7%

Revenue & EPS history

Cisco · Revenue · Quarterly

$14.7B

Q4 2025+7.8%vs Q4 2024
Beat estimate in 12 of 15 quarters(80%)
ActualEstimate

Revenue by segment

Cisco · $15.8B total across 5 segments · Q3 2026

  • Networking
    $8.82B
  • Services
    $3.72B
  • Security
    $2.01B
  • Collaboration
    $1.02B
  • Observability
    $269M

Forward guidance

The release discusses Cisco Systems's outlook, capital allocation, and key risks for upcoming quarters, including guidance ranges or operating priorities where disclosed.

Tailwinds

  • Cisco Systems cites demand and execution supporting the near-term outlook.
  • Liquidity and balance-sheet capacity support operations and shareholder returns.

Headwinds

  • Macro, input costs, and FX may pressure margins quarter to quarter.
  • Segment mix and one-time items can affect comparability versus prior periods.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q4 2025

Historical avgQ4 2025

-0.2%

Avg return

Earnings day

-0.2%

Avg return

5 days after

+0.3%

Avg return

30 days after

51%

37 / 72 earnings

Positive

+12.3%

Q3 2013

Best reaction

-17.5%

Q3 2022

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q3 2026+0.5%-0.9%+5.3%
Q2 2026-12.3%-10.2%-8.4%
Q1 2026-2.2%+4.6%+5.2%
Q4 2025+0.3%-5.2%-5.5%
Q3 2025+4.8%+3.5%+4.6%
Q2 2025+2.1%+3.3%-3.2%
Q1 2025-1.3%-2.4%-0.2%
Q4 2024+7.0%+10.2%+9.8%
Q3 2024-1.2%-3.7%-6.7%
Q2 2024-1.2%-2.4%-1.4%
Q1 2024-9.6%-9.2%-6.2%
Q4 2023+2.6%+3.9%+5.0%
Q3 2023+2.7%+4.0%+11.0%
Q2 2023+6.9%+6.4%+5.2%
Q1 2023+3.8%+6.1%+6.5%
Q4 2022+5.6%+2.0%-7.4%
Q3 2022-17.5%-14.3%-14.2%
Q2 2022+2.8%+5.4%+3.1%
Q1 2022-5.9%-4.2%+6.1%
Q4 2021+2.2%+4.5%+1.5%
Q3 2021-0.2%+0.9%-1.6%
Q2 2021-3.5%-3.4%-0.3%
Q1 2021+5.3%+6.5%+12.7%
Q4 2020-9.5%-10.8%-15.5%
Q3 2020+1.5%+4.3%+4.3%
Q2 2020-3.7%-4.4%-23.4%
Q1 2020-7.2%-6.7%-6.3%
Q4 2019-12.3%-8.0%-5.1%
Q3 2019+7.5%+7.7%+5.2%
Q2 2019+1.1%+3.2%+11.1%
Q1 2019+3.7%+1.4%+1.6%
Q4 2018+2.6%+5.0%+7.7%
Q3 2018-4.4%-3.8%-2.7%
Q2 2018+6.9%+7.5%+9.2%
Q1 2018+5.4%+7.2%+12.2%
Q4 2017-3.3%-4.4%+1.1%
Q3 2017-8.5%-7.9%-7.8%
Q2 2017+4.0%+4.4%+5.9%
Q1 2017-5.2%-5.2%-3.5%
Q4 2016-2.1%-1.6%-0.9%
Q3 2016+3.5%
Q2 2016+9.0%
Q1 2016-5.8%
Q4 2015+2.4%
Q3 2015-0.6%
Q2 2015+7.2%
Q1 2015+2.1%
Q4 2014-2.4%
Q3 2014+5.8%
Q2 2014-1.9%
Q1 2014-9.9%
Q4 2013-7.0%
Q3 2013+12.3%
Q2 2013+0.1%
Q1 2013+4.7%
Q4 2012+10.8%
Q3 2012-10.2%
Q2 2012-1.0%
Q1 2012-0.4%
Q4 2011+2.0%
Q3 2011-0.1%
Q2 2011-1.2%
Q1 2011+0.3%
Q4 2008-0.4%
Q4 2010-0.4%
Q3 2010+1.5%
Q3 2009+1.5%
Q2 2009+1.2%
Q2 2010+1.2%
Q1 2010-1.7%
Q4 2009-1.7%
Q1 2009-1.7%

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