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Research Alert: Cisco Systems Delivers Record Results Fueled By Ai And Networking Refresh

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CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

CSCO delivered exceptional Q3 FY 26 results with revenue surging 12% Y/Y to a record $15.8B and non-GAAP EPS of $1.06 representing 10% growth, significantly exceeding guidance across all metrics. The standout Networking segment posted 25% Y/Y growth to $8.8B driven by AI infrastructure investments, while product orders accelerated 35% Y/Y with networking orders up over 50%. However, Security remained flat at $2.0B, marking concerning deceleration from recent double-digit growth rates. Management raised AI infrastructure expectations to $9B orders and $4B revenue for FY 26, up from $5B and $3B, respectively, with Q4 guidance of $16.7B-$16.9B revenue and $1.16-$1.18 EPS. We believe CSCO's increasingly prominent role in AI-driven infrastructure transformation provides solid foundation for continued growth, though we note the uneven demand across segments with Security weakness highlighting competitive intensity in cybersecurity markets.

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