CSCO Cisco (CSCO) Q1 FY26 earnings call
Cisco reported a strong start to FY26, exceeding revenue and EPS guidance, primarily driven by robust demand for AI infrastructure and a multi-year campus networking refresh cycle. The company is strategically investing in AI-native solutions and expanding partnerships to capitalize on the AI era, while navigating a temporary revenue impact from Splunk's cloud transition and managing gross margin pressures. Capital returns remain a priority, with significant value returned to shareholders.
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CSCO operating KPIs by quarter
| KPI | Jan 2025 Q2 FY25 | Apr 2025 Q3 FY25 | Jul 2025 Q4 FY25 | This call Oct 2025 Q1 FY26 | Jan 2026 Q2 FY26 | Apr 2026 Q3 FY26 | Jul 2026 Q4 FY26 | Change vs prior quarter |
|---|---|---|---|---|---|---|---|---|
| Annual recurring revenue (ARR) | $30.1BTotal ARR ended the quarter at $30.1 billion, an increase of 22% with product ARR growth of 41%.Source: earnings call transcript | $30.6BTotal ARR ended the quarter at $30.6 billion, an increase of 5% with product ARR growth of 8%.Source: earnings call transcript | $31.1BTotal ARR ended the quarter at $31.1 billion, an increase of 5% with product ARR growth of 8%.Source: earnings call transcript | $31.4BTotal ARR ended the quarter at $31.4 billion, an increase of 5%, with product ARR growth of 7%.Source: earnings call transcript | $31BTotal ARR ended the quarter at $31 billion, an increase of 3% with product ARR growth of 6%.Source: earnings call transcript | $31.2BTotal ARR ended the quarter at $31.2 billion, an increase of 2%, with product ARR growth of 4%.Source: earnings call transcript | $32.1BTotal ARR ended the quarter at $32.1 billion, an increase of 3%, with product ARR growth of 5%.Source: earnings call transcript | +2.9% |
| Remaining performance obligation (RPO) | $41.3BAnd total RPO was $41.3 billion, up 16%, product RPO grew 25%, and total short-term RPO was up 17% to $21 billion.Source: earnings call transcript | $41.7BTotal RPO was $41.7 billion, up 7%.Source: earnings call transcript | $43.5BTotal RPO was $43.5 billion, up 6% and Product RPO grew 8%, and total short-term RPO was $21.7 billion, up 4%.Source: earnings call transcript | $42.9BTotal RPO was $42.9 billion, up 7%.Source: earnings call transcript | $43.4BTotal RPO was $43.4 billion, up 5%.Source: earnings call transcript | $43.5BTotal RPO was $43.5 billion, up 4%.Source: earnings call transcript | $46.7BTotal RPO was $46.7 billion, up 7%, with product RPO up 9%.Source: earnings call transcript | +7.4% |
| Remaining performance obligation (RPO) Short-term | $21BAnd total RPO was $41.3 billion, up 16%, product RPO grew 25%, and total short-term RPO was up 17% to $21 billion.Source: earnings call transcript | $21.1BAnd total short-term RPO and was $21.1 billion, up 5%.Source: earnings call transcript | $21.7BTotal RPO was $43.5 billion, up 6% and Product RPO grew 8%, and total short-term RPO was $21.7 billion, up 4%.Source: earnings call transcript | — | — | — | — | +2.8% |
| Remaining performance obligation (RPO) Product Long-term | — | — | — | $11.8BProduct RPO grew 10%, of which the long-term portion was $11.8 billion, up 13%.Source: earnings call transcript | $11.8BProduct RPO grew 8%, of which the long-term portion was $11.8 billion, up 11%.Source: earnings call transcript | — | — | 0% |
Operating figures the company stated on at least two of the calls shown, checked against each call's transcript. Click a figure to read the sentence. A dash means it was not stated that quarter.
Inve summary of the company's earnings call; see how call summaries are prepared. Not investment advice.