Cisco Systems (CSCO) reports fiscal first-quarter 2027 earnings after the close on Thursday, November 12, with its call at 4:30 p.m. ET. Analysts expect earnings of about $1.33 per share on revenue of about $18.1 billion. The stock closed at $98.15 on Tuesday, well below where it traded before its last report.
The numbers to beat
| Measure | Analyst estimate | Cisco’s own guidance | A year ago |
|---|---|---|---|
| Earnings per share (adjusted) | $1.33 | $1.32 to $1.34 | $1.00 |
| Revenue | About $18.1 billion | $18.0 to $18.2 billion | $14.88 billion |
Meeting the estimates would mean earnings growth of about 33% and revenue growth of roughly 22% from a year earlier.
What happened last quarter
In August, Cisco beat on both lines, with revenue of $17.25 billion, up 18%, and adjusted earnings of $1.22 per share. The stock still fell about 9% the next day. The reason was profitability: gross margin slipped to 66.3% from 68.4%, and the company guided to 65% to 66% for fiscal 2027.
Three things to watch
- Gross margin. This is what sank the stock in August. A reading at or above 66% would calm nerves. Another drop would not.
- AI orders. Cisco booked $9.3 billion of AI infrastructure orders from the largest cloud companies in fiscal 2026. Traders want to see that pace hold after CoreWeave’s strong results this week lifted the whole AI group.
- Full-year guidance. Cisco has forecast fiscal 2027 revenue of $72.2 billion to $73.4 billion. A raise would be the clearest positive signal.
What analysts are saying
Morgan Stanley downgraded Cisco to Hold from Buy on November 5 and cut its price target to $120 from $135, saying the risk and reward look balanced. The Wall Street consensus is still a Moderate Buy.
How the stock may trade
The first reaction will come in after-hours trading right after 4:00 p.m. ET, and it can reverse during the call. If you are new to this, read how premarket and after-hours trading works before placing an order.
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Frequently asked questions
When does Cisco report earnings?
Thursday, November 12, 2026, after the market closes, with a conference call at 4:30 p.m. ET.
What is the Cisco earnings estimate?
About $1.33 per share on revenue of about $18.1 billion.
Why did Cisco stock fall after its last earnings?
Revenue and earnings beat estimates, but gross margin fell and guidance pointed to lower margins in fiscal 2027.
Sources: Cisco guidance and results, Zacks and MarketBeat consensus estimates, analyst reports. This article is general information, not financial advice.
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