CSCO Q2 2026 Earnings
Reported Feb 11, 2026 at 4:07 PM ET · SEC Source
Q2 26 EPS
$1.04
BEAT +1.75%
Est. $1.02
Q2 26 Revenue
$15.35B
BEAT +1.49%
Est. $15.12B
vs S&P Since Q2 26
+10.4%
BEATING MARKET
CSCO +16.2% vs S&P +5.8%
Market Reaction
Did CSCO Beat Earnings? Q2 2026 Results
Cisco Systems delivered a record quarter in Q2 FY2026, posting revenue of $15.35 billion, up 9.7% year over year and ahead of the $15.12 billion consensus estimate by 1.49%, while non-GAAP EPS of $1.04 edged past the $1.02 Wall Street forecast by 1.7… Read more Cisco Systems delivered a record quarter in Q2 FY2026, posting revenue of $15.35 billion, up 9.7% year over year and ahead of the $15.12 billion consensus estimate by 1.49%, while non-GAAP EPS of $1.04 edged past the $1.02 Wall Street forecast by 1.75%. The driving force behind the beat was a powerful campus networking refresh cycle that pushed networking segment revenue up 21% to $8.29 billion, complemented by $2.10 billion in AI infrastructure orders from hyperscalers, a figure that underscores how deeply Cisco is embedding itself in the buildout of large-scale AI systems. Product revenue surged 14% overall, and total product orders grew 18% year over year, reflecting broad demand momentum that investors had been watching closely. Looking ahead, management guided Q3 revenue of $15.40 billion to $15.60 billion and raised full-year FY2026 revenue guidance to $61.20 billion to $61.70 billion, positioning fiscal 2026 as the company's strongest revenue year on record.
Key Takeaways
- • Product orders up 18% year over year with networking product orders accelerating to more than 20% year over year
- • AI Infrastructure orders from hyperscalers totaled $2.1 billion, reflecting significant acceleration
- • Major multi-year, multi-billion-dollar campus networking refresh cycle underway
- • Double-digit growth across all geographies and robust growth across all customer markets
- • Networking revenue up 21% year over year driving product revenue growth of 14%
- • EMEA revenue growth of 15% led geographic performance
CSCO Forward Guidance & Outlook
For Q3 FY2026, Cisco guided revenue of $15.4 billion to $15.6 billion, non-GAAP gross margin of 65.5% to 66.5%, non-GAAP operating margin of 33.5% to 34.5%, and non-GAAP EPS of $1.02 to $1.04 (GAAP EPS of $0.73 to $0.77). For full-year FY2026, Cisco guided revenue of $61.2 billion to $61.7 billion and non-GAAP EPS of $4.13 to $4.17 (GAAP EPS of $3.00 to $3.08). Guidance includes the estimated impact of tariffs based on current trade policy. Management highlighted strong broad-based demand, a major multi-year campus networking refresh cycle, and accelerating AI infrastructure orders from hyperscalers as drivers for continued growth, positioning FY2026 as Cisco's strongest revenue year ever.
CSCO YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
CSCO Revenue by Segment
With YoY comparisons, source: SEC Filings
CSCO Revenue by Geography
With YoY comparisons, source: SEC Filings
“Cisco's strong second quarter and first half of fiscal 2026 demonstrate both the power of our portfolio and the fundamental role we continue to play in connecting and protecting customers in a rapidly evolving landscape.”
— Chuck Robbins, Q2 2026 Earnings Press Release
CSCO Earnings Trends
CSCO vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
CSCO EPS Trend
Earnings per share: estimate vs actual
CSCO Revenue Trend
Quarterly revenue: estimate vs actual
CSCO Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 BEAT | $1.02 | $1.04 | +1.75% | $15.35B | +1.49% |
| Q1 26 BEAT | $0.98 | $1.00 | +1.86% | $14.88B | +0.72% |
| Q4 25 BEAT FY | $0.98 | $0.99 | +1.02% | $14.67B | +0.22% |
| FY Full Year | $3.79 | $3.81 | +0.59% | $56.65B | +0.06% |
| Q3 25 BEAT | $0.92 | $0.96 | +4.64% | $14.15B | +0.65% |