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Cisco Systems Inc. (NASDAQ: CSCO) reported revenue of $14.7 billion for the fourth quarter ended July 26, 2025, an increase of 8 percent from a year earlier, driven by growth in product orders across all geographies. Net income under generally accepted accounting principles (GAAP) was $2.8 billion, or $0.71 per share, while non-GAAP net income was $4.0 billion, or $0.99 per share.
In a statement, the company said fourth-quarter product orders rose 7 percent year-on-year, with AI infrastructure orders from webscale customers exceeding $800 million in the quarter and bringing the full-year total to more than $2 billion, over double the original $1 billion target. Gross margin for the quarter was 65.7 percent on a GAAP basis and 68.4 percent on a non-GAAP basis, both at the high end of guidance.
Full-year revenue rose 5 percent to $56.7 billion. GAAP earnings per share were $2.61, up 3 percent from the previous year, while non-GAAP earnings per share were $3.81, up 2 percent.
Speaking on the results, Chief executive Chuck Robbins said “the results reflected accelerated innovation and strong execution, noting the scale of AI infrastructure orders as a sign of long-term opportunity.”
“The company delivered revenue, gross margin and operating margin at the high end of its guidance range, with earnings per share exceeding expectations,” CFO Mark Patterson added.
For the first quarter of fiscal 2026, Cisco forecast revenue between $14.65 billion and $14.85 billion, GAAP earnings per share between $0.63 and $0.68, and non-GAAP earnings per share between $0.97 and $0.99. For the full year, it projected revenue of $59.0 billion to $60.0 billion, GAAP earnings per share of $2.79 to $2.91 and non-GAAP earnings per share of $4.00 to $4.06. Guidance reflects the estimated impact of tariffs based on current trade policy.