Revenue: As of FY2026 Q3, the actual value is USD 15.84 B, beating the estimate of USD 15.56 B.EPS: As of FY2026 Q3, the actual value is USD 0.85, beating the estimate of USD 0.762.EBIT: As of FY2026 Q3, the actual value is USD 4.123 B.<h3>Operational Metrics</h3><h4>Three Months Ended April 25, 2026 vs. April 26, 2025</h4><ul><li>Gross Margin Percentage: Decreased by 2.0 percentage points to 63.6% from 65.6% .</li><li>Operating Income: Increased by 24% to $3,960 million from $3,202 million .</li><li>Operating Income as a Percentage of Revenue: Increased by 2.4 percentage points to 25.0% from 22.6% .</li><li>Total Software Revenue: Increased by 1% to $5,700 million .</li><li>Total Subscription Revenue: Decreased by 2% .</li></ul><h4>Nine Months Ended April 25, 2026 vs. April 26, 2025</h4><ul><li>Gross Margin Percentage: Decreased by 0.8 percentage points to 64.7% from 65.5% .</li><li>Operating Income: Increased by 28% to $11,104 million from $8,673 million .</li><li>Operating Income as a Percentage of Revenue: Increased by 3.4 percentage points to 24.1% from 20.7% .</li></ul><h3>Segment Revenue</h3><h4>Three Months Ended April 25, 2026 vs. April 26, 2025</h4><ul><li>Americas Revenue:<ul><li>Product revenue increased by 20% to $7,375 million .</li><li>Services revenue decreased by -3% to $2,194 million .</li></ul></li><li>EMEA Revenue:<ul><li>Product revenue increased by 11% to $3,101 million .</li><li>Services revenue increased by 2% to $953 million .</li></ul></li><li>APJC Revenue:<ul><li>Product revenue increased by 14% to $1,640 million .</li><li>Services revenue decreased by -2% to $578 million .</li></ul></li></ul><h4>Nine Months Ended April 25, 2026 vs. April 26, 2025</h4><ul><li>Americas Revenue:<ul><li>Product revenue increased by 15% to $20,731 million .</li><li>Services revenue decreased by -1% to $6,672 million .</li></ul></li><li>EMEA Revenue:<ul><li>Product revenue increased by 12% to $9,434 million .</li><li>Services revenue increased by 2% to $2,829 million .</li></ul></li><li>APJC Revenue:<ul><li>Product revenue increased by 10% to $4,671 million .</li><li>Services revenue was flat at $1,738 million .</li></ul></li></ul><h3>Unique Metrics (Product Category Performance)</h3><h4>Three Months Ended April 25, 2026 vs. April 26, 2025</h4><ul><li>Networking: Product revenue increased by 25% to $8,815 million, driven by AI Infrastructure and Campus Networking solutions .</li><li>Security: Product revenue was flat at $2,008 million, with declines in prior generation products and Splunk offerings offset by new products and SASE offerings .</li><li>Collaboration: Product revenue decreased by -1% to $1,024 million, due to declines in Webex Suite offerings, partially offset by growth in Collaboration Devices, Cloud Contact Center, and CPaaS .</li><li>Observability: Product revenue increased by 3% to $269 million, primarily due to growth in ThousandEyes, partially offset by a decline in Splunk offerings .</li></ul><h4>Nine Months Ended April 25, 2026 vs. April 26, 2025</h4><ul><li>Networking: Product revenue increased by 20% to $24,877 million, driven by AI Infrastructure solutions, Data Center Switching, Campus Switching, Wireless, and Enterprise Routing .</li><li>Security: Product revenue decreased by -2% to $6,006 million, primarily due to Threat Intelligence, Detection, and Response offerings and prior generation products, partially offset by SASE offerings .</li><li>Collaboration: Product revenue increased by 1% to $3,133 million, driven by Collaboration Devices and CPaaS offerings, partially offset by Webex Suite declines .</li><li>Observability: Product revenue increased by 3% to $820 million, primarily due to growth in ThousandEyes, partially offset by a decline in Splunk offerings .</li></ul><h3>Other Key Financial Measures</h3><h4>As of April 25, 2026 vs. July 26, 2025</h4><ul><li>Cash and Cash Equivalents and Investments: $16,640 million compared to $16,110 million .</li><li>Remaining Performance Obligations (RPO): $43,462 million compared to $43,533 million .</li><li>Inventories: $4,708 million compared to $3,164 million .</li><li>Total Debt: $31,303 million compared to $28,093 million .</li></ul><h4>Nine Months Ended April 25, 2026 vs. April 26, 2025</h4><ul><li>Cash Provided by Operating Activities: $8,791 million compared to $9,959 million .</li><li>Repurchases of Common Stock: $4,604 million compared to $4,743 million .</li><li>Dividends Paid: $4,894 million compared to $4,812 million .</li></ul><h3>Future Outlook and Strategy</h3>Cisco Systems, Inc. is investing in key growth opportunities such as silicon, optics, security, and artificial intelligence (AI), supported by a restructuring plan (Fiscal 2026 Plan) that is expected to incur up to $1 billion in pre-tax charges and be substantially completed by the end of fiscal 2027 . The company aims to drive profitable growth long-term by accelerating innovation and assisting customers with digital transformations, although cost savings from restructuring are not expected to be material due to reinvestment .

Cisco | 10-Q: FY2026 Q3 Revenue Beats Estimate at USD 15.84 B