Cisco Systems, Inc.: Beat — EPS $1.40, Revenue $18.52B

CSCOCisco Systems, Inc.•Q1 2027•Nov 12, 2026, 4:05 PM EST

Earnings BeatQ1 2027 · After-market

Did Cisco Systems, Inc. (CSCO) beat earnings today?

@trystockwhiz

Yes, Cisco Systems, Inc. (CSCO) beat Wall Street analyst expectations for Q1 2027, reporting higher-than-expected EPS and higher-than-expected revenue.

Earnings Per Share+5.26% surprise

$1.40Actual

Expected: $1.33

vs. year ago +40.0%

Total Revenue+2.13% surprise

$18.52BActual

Expected: $18.13B

vs. year ago +24.0%

Released Nov 12 · 4:05 PM ET

Earning Report

Metric	Q1 FY 2027	Q1 FY 2026	YoY Change %
Revenue	$18.52B	$14.88B	+24.0
Revenue detail — reported lines
└─Product	$14.67B	$11.08B	+32.0
Consolidated revenue by source
└─Services	$3.85B	$3.81B	+1.0
Revenue detail — reported lines
└─Americas	$11.51B	-	+28.0
└─EMEA	$4.46B	-	+18.0
└─APJC	$2.56B	-	+21.0
└─Networking	$11.13B	-	+43.0
└─Security	$2.12B	-	+7.0
└─Collaboration	$1.14B	-	+8.0
└─Observability	$279.00M	-	+2.0
Net Income	$4.55B	$2.86B	+59.0
GAAP Basic EPS	$1.15	$0.72	+59.7
GAAP Diluted EPS	$1.14	$0.72	+58.0
Non-GAAP EPS	$1.40	$1.00	+40.0

Financial Outlook / Guidance

Metric	Q2 FY 2027 Outlook		FY 2027 Outlook
Metric	Guidance	Expected	Guidance	Expected
Revenue	$18.0B-$18.2B	$17.91BBeat +1.06%	$74.8B-$75.8B	$73.22BBeat +2.84%
Non-GAAP Gross Margin	65%-66%	—	—	—
Non-GAAP Operating Margin	36%-37%	—	—	—
GAAP EPS	$1.07-$1.09	—	$4.38-$4.44	—
Non-GAAP EPS	$1.34-$1.36	$1.23Beat +9.76%	$5.47-$5.53	$5.15Beat +6.80%

Q2 FY 2027 Outlook

Revenue: Guidance
$18.0B-$18.2B
Expected
$17.91BBeat +1.06%
Non-GAAP Gross Margin: Guidance
65%-66%
Expected
—
Non-GAAP Operating Margin: Guidance
36%-37%
Expected
—
GAAP EPS: Guidance
$1.07-$1.09
Expected
—
Non-GAAP EPS: Guidance
$1.34-$1.36
Expected
$1.23Beat +9.76%

FY 2027 Outlook

Revenue: Guidance
$74.8B-$75.8B
Expected
$73.22BBeat +2.84%
Non-GAAP Gross Margin: Guidance
—
Expected
—
Non-GAAP Operating Margin: Guidance
—
Expected
—
GAAP EPS: Guidance
$4.38-$4.44
Expected
—
Non-GAAP EPS: Guidance
$5.47-$5.53
Expected
$5.15Beat +6.80%

Business Highlights

➤Demand was broad-based across all geographies and customer markets.
➤Cisco expects a multi-year networking supercycle driven by the agentic AI era.
➤Organizations are using Cisco technology to scale, secure and optimize their environments.
➤Cisco closed the acquisition of WideField Security Inc., a privately held security company.
➤Returned $3.7 billion to stockholders through share buybacks and dividends.
➤Repurchased approximately 18 million shares under its stock repurchase program.
➤Declared a quarterly dividend of $0.42 per common share.
➤Remaining stock repurchase authorization was $6.1 billion with no termination date.

Management Commentary

Chuck Robbins, Chair and CEO of Cisco

“In Q1, we delivered the strongest revenue and non-GAAP earnings per share growth rates for Cisco in over 15 years.”

Chuck Robbins, Chair and CEO of Cisco

“Organizations are turning to Cisco for our trusted, market-defining technology and our expertise to help them scale, secure and optimize their environments for the agentic AI era. We are in the very early stages of a multi-year networking supercycle, and we're confident in our ability to continue capturing the multi-billion-dollar opportunity it represents for Cisco.”

Mark Patterson, CFO of Cisco

“Q1 FY27 was another record quarter for Cisco, with revenue, non-GAAP operating margin, and non-GAAP EPS all exceeding the high end of our guidance ranges. The strength of our Q1 performance gives us confidence to raise our revenue and non-GAAP EPS guidance for FY27.”

Mark Patterson, CFO of Cisco

“As our business continues to scale, we are unlocking significant operating leverage which is enabling us to grow earnings much faster than revenue. Looking ahead, we remain focused on delivering durable growth and driving continued capital returns.”