Cisco Systems(US:CSCO)2025-11-12 21:30Financial Performance - Q1 FY2026 revenue reached $14883 million, up 8% year-over-year[9, 26, 32, 33] - Non-GAAP EPS was $1.00, a 10% increase year-over-year[9] - Non-GAAP gross margin was 68.1%[9] - Non-GAAP operating margin was 34.4%[9] AI Momentum - Cisco secured $1300 million in AI infrastructure orders from hyperscale customers in Q1 FY26[6, 9, 18] - AI orders of over $200 million were taken from neocloud, sovereign, and enterprise customers in Q1 FY26[6, 18] - The company anticipates over $3000 million in AI infrastructure revenues in FY26[6, 12] - The AI opportunities pipeline is growing, exceeding $2000 million across neocloud, sovereign, and enterprise customers[9, 15] Recurring Revenue - Total RPO increased by 7% year-over-year to $42900 million, with product RPO up 10% year-over-year[9, 27] - Total ARR grew by 5% year-over-year to $31400 million, with product ARR up 7% year-over-year[9, 27] Capital Allocation - Cisco returned $3600 million to shareholders in Q1 FY26, including $2001 million in share repurchases[9, 35]