Services
Q4 fiscal 2026 services revenue flat at $3.79 billion; full-year services revenue $15.0 billion, flat with fiscal 2025.
The numbers
What it is
Support and maintenance contracts sold with Cisco hardware and software, plus advisory work. It is the most predictable revenue line and carries the highest gross margin.↗ source
Why it matters to the stock. Services revenue that is flat while product revenue surges signals that the AI-driven growth is coming from new hardware, not from the installed-base renewal cycle.
News
Cisco beats fiscal Q4 2026 estimates and guides FY2027 above consensus, but shares fall on margins
Cisco reported fourth-quarter fiscal 2026 revenue of $17.3 billion, up 18%, and non-GAAP EPS of $1.22, up 23%, both above Street expectations.
Cisco repurchases $1.3 billion of stock in fiscal Q3 at an average $80.28
Cisco bought back about 16 million shares for $1.3 billion in its fiscal third quarter, at an average price of $80.28, and returned $2.9 billion to shareholders in total.