Cisco Systems reported Q1 fiscal 2026 earnings of $1 per share, beating estimates by 2.04%. Revenues were $14.88 billion, up 7.5% YoY. ARR was $31.4 billion, with product ARR up 7%. Networking revenues were $7.77 billion, up 15%. Operating margin expanded to 34.4%. Cash and investments were $15.7 billion.

For Q2 fiscal 2026, Cisco expects earnings of $1.01-$1.03 per share and revenues of $15-$15.2 billion. Non-GAAP gross margins are expected to be 67.5%-68.5%. For FY 2026, earnings are expected to be $4.08-$4.14 per share with revenues of $60.2-$61 billion. Estimates have trended upward.

Cisco has a Growth Score of B, a Momentum Score of D, and a Value Score of D. The stock has an aggregate VGM Score of C. Estimates have been trending upward, and the stock has a Zacks Rank #3 (Hold). The outlook is for an in-line return.

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