Cisco Stock Falls Despite Record Q4 Earnings Amid AI Infrastructure Surge

Cisco Systems Inc. reported record fourth-quarter fiscal 2026 earnings on August 12, 2026, despite its stock falling to $115 on August 13, 2026 from a close of $123.88 the day before.

The company's Q4 2026 revenue reached $17.3 billion, an 18 percent increase year over year, with non-GAAP net income rising to $4.9 billion and non-GAAP earnings per share climbing 23 percent to $1.22 versus last year's $0.99.

AI infrastructure orders surged in Q4 2026, totaling $4 billion, taking fiscal 2026 AI infrastructure orders to $9.3 billion, a four-and-a-half-fold increase from the previous year.