Cisco Records Record Quarter on AI-Fueled Super Cycle

Cisco Systems posted record quarterly revenue of $17.3 billion, up 18% year over year, and non-GAAP EPS of $1.22, up 23%, both above guidance. The company's full-year revenue reached $63.3 billion, up 12%, with non-GAAP EPS of $4.33, up 14%. CEO Chuck Robbins attributed the strong results to the early stages of a networking super cycle driven by AI adoption.

Cisco's AI infrastructure momentum was particularly noteworthy, with hyperscalers taking in $4 billion in Q4 orders and $9.3 billion for the year, about 4.5 times the prior year's total. The company won three new hyperscaler design wins in Q4, including a Silicon One P200-powered system for scale-across and a G200-powered system for scale-out.

Cisco guided fiscal 2027 revenue to $72.2, $73.4 billion, up 15% at the midpoint, and non-GAAP EPS of $5.05, $5.11, up 17%. The company's CFO Mark Patterson emphasized that the AI infrastructure revenue target was a revenue target, not an order target.