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Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions.
| Analyst | Firm | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Amit Daryanani | Evercore ISI | 15 questions · 7% challenging |
| Meta Marshall | Morgan Stanley | 15 questions · 0% challenging |
| Aaron Rakers | Wells Fargo | 14 questions · 0% challenging |
| Dave Vogt | UBS | 13 questions · 23% challenging |
| Tal Liani | Bank of America | 12 questions · 42% challenging |
| Karl Ackerman | BNP Paribas | 12 questions · 0% challenging |
| Mike Ng | Goldman Sachs | 11 questions · 9% challenging |
| Samik Chatterjee | JPMorgan | 11 questions · 0% challenging |
| Jim Fish | Piper Sandler | 11 questions · 18% challenging |
| Ben Reitzes | Melius Research | 10 questions · 10% challenging |
| Firm | Analysts | Questions · challengingPercentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Morgan Stanley | 1 analyst | 15 questions · 0% challenging |
| Evercore ISI | 1 analyst | 15 questions · 7% challenging |
| UBS | 2 analysts | 15 questions · 20% challenging |
| Wells Fargo | 1 analyst | 14 questions · 0% challenging |
| JPMorgan | 2 analysts | 14 questions · 0% challenging |
| BNP Paribas | 2 analysts | 13 questions · 0% challenging |
| Bank of America | 1 analyst | 12 questions · 42% challenging |
| Goldman Sachs | 1 analyst | 11 questions · 9% challenging |
Cisco posted record Q3 revenue of $15.8 billion, up 12% year-over-year, with non-GAAP EPS of $1.06, up 10%, and total product orders growing 35%. FY2026 guidance was raised significantly with revenue now expected at $62.8 to $63.0 billion and EPS at $4.27 to $4.29, representing a 3.13% EPS midpoint increase. AI infrastructure orders surged toward a $9 billion FY2026 target, and broad-based enterprise and public sector strength complemented the AI buildout.
Cloud & AI | Demand | Revenue Growth | Competitive Dynamics | Innovation & R&D | Product Launch | Margin | Trade Tariffs | |
|---|---|---|---|---|---|---|---|---|
| 2025Q1 | 11 | 7 | 6 | 4 | 2 | 3 | 3 | 1 |
| 2025Q2 | 12 | 11 | 3 | 4 | 5 | 3 | 1 | 2 |
| 2025Q3 | 13 | 8 | 4 | 4 | 2 | 2 | 2 | 4 |
| 2025Q4 | 10 | 8 | 9 | 2 | 2 | 5 | 1 | 2 |
| 2026Q1 | 12 | 9 | 4 | 4 | 4 | 4 | 1 | |
| 2026Q2 | 9 | 7 | 3 | 3 | 3 | 3 | 4 | |
| 2026Q3 | 6 | 5 | 3 | 4 | 2 | 5 |
| '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | '26Q3 | |
|---|---|---|---|---|---|---|---|
| Cloud & AI | 11 | 12 | 13 | 10 | 12 | 9 | 6 |
| Demand | 7 | 11 | 8 | 8 | 9 | 7 | 5 |
| Revenue Growth | 6 | 3 | 4 | 9 | 4 | 3 | 3 |
| Competitive Dynamics | 4 | 4 | 4 | 2 | 4 | 3 | 4 |
| Innovation & R&D | 2 | 5 | 2 | 2 | 4 | 3 | 2 |
| Product Launch | 3 | 3 | 2 | 5 | 4 | 3 | |
| Margin | 3 | 1 | 2 | 1 | 1 | 4 | 5 |
| Trade Tariffs | 1 | 2 | 4 | 2 |
What CSCO and other companies said about each other on FY2026 Q3 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“is participating in private testing of Anthropic's Claude Mythos preview model, specifically designed for proactive cybersecurity defense testing”
Cisco is a private testing partner for Anthropic's cybersecurity-focused Claude model, integrating it into its defensive security work.
“We are also part of OpenAI's Trusted Access for Cyber program.”
Cisco is a partner in OpenAI's Trusted Access for Cyber program and a founding design partner with OpenAI on Codex, reflecting deep AI-model vendor ties.
“recently announced our intent to acquire Galileo and Astrix to expand our security and observability platform”
Cisco intends to acquire Astrix to add agentic identity, access management and behavior monitoring to its security platform.
“recently announced our intent to acquire Galileo and Astrix to expand our security and observability platform”
Cisco intends to acquire Galileo to add agentic identity and observability capabilities to its security platform.
“In March, we announced a major expansion of our Secure AI factory with NVIDIA, giving customers a framework for deploying AI across their entire infrastructure”
Cisco expanded its Secure AI Factory partnership with NVIDIA, embedding security into NVIDIA-based AI infrastructure deployments.
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| Quarter | Revenue | Rev YoY | EPS | EPS YoY | Gross margin | Op margin | Net margin | FCF |
|---|---|---|---|---|---|---|---|---|
| FY2025 Q1 | $13.84B | -5.6% | $0.68 | -23.6% | 65.9% | 17.0% | 19.6% | $3.44B |
| FY2025 Q2 | $13.99B | +9.4% | $0.61 | -6.2% | 65.1% | 22.3% | 17.4% | $2.03B |
| FY2025 Q3 | $14.15B | +11.4% | $0.62 | +34.8% | 65.6% | 22.6% | 17.6% | $3.80B |
| FY2025 Q4 | $14.67B | +7.6% | $0.64 | +18.5% | 63.2% | 21.0% | 17.4% | $4.02B |
| FY2026 Q1 | $14.88B | +7.5% | $0.72 | +5.9% | 65.5% | 22.6% | 19.2% | $2.89B |
| FY2026 Q2 | $15.35B | +9.7% | $0.79 | +29.5% | 65.0% | 24.6% | 20.7% | $2.15B |
| FY2026 Q3Selected | $15.84B | +12.0% | $0.85 | +37.1% | 63.6% | 25.0% | 21.3% | $3.56B |
| FY2026 Q4 | $17.25B | +17.6% | $0.97 | +51.6% | 64.1% | 24.7% | 22.4% | $5.39B |
Management’s own words, often on a non-GAAP, constant-currency, or adjusted basis — so these can differ from the GAAP figures above (e.g. constant-currency revenue growth excludes currency swings).
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
CSCO Cisco Systems, Inc. | 9 | +12.0% | |
| CIEN Ciena Corporation | 10 | +39.5% | |
| ECHO EchoStar Corporation | Newest quarter — available with Pro | Newest quarter — available with Pro | |
| HPE Hewlett Packard Enterprise | 9 | +40.7% | |
| LITE Lumentum Holdings Inc. | Newest quarter — available with Pro | Newest quarter — available with Pro | |
| MSI Motorola Solutions | Newest quarter — available with Pro | Newest quarter — available with Pro | |
| ZBRA Zebra Technologies | Newest quarter — available with Pro | Newest quarter — available with Pro |
Newest-quarter details for 4 peers (score, revenue, headline, themes and macro signals) are available with Pro.
Calendar quarter Q2 2026Earnings call May 13, 2026
FY2026 Q3 in brief
Cisco posted record Q3 revenue of $15.8 billion, up 12% year-over-year, with non-GAAP EPS of $1.06, up 10%, and total product orders growing 35%.
Newest quarter FY2026 Q4 is part of Pro · see what Pro adds →
Sources. Tellvest earnings-call sentiment score for Cisco Systems, Inc. (CSCO), FY2026 Q3: 9/10. Scores: Cisco Systems, Inc.’s public earnings-call transcripts and SEC-reported results — the base band is anchored to reported GAAP revenue growth; transcript, EPS and guidance adjustments are applied separately (documented exceptions apply to a few issuers). Price: CSCO daily closing prices for the trailing year; dots mark earnings calls, colored by that quarter’s score; the newest quarter’s score is part of Tellvest Pro. How to read a company earnings-call score.
GAAP revenue YoY +12.0% → base 7. The base score is anchored to the GAAP revenue YoY band before transcript, EPS, and guidance adjustments.