Core Insights - Cisco Systems (CSCO) reported second-quarter fiscal 2026 non-GAAP earnings of $1.04 per share, exceeding the Zacks Consensus Estimate by 1.96% and reflecting a year-over-year increase of 10.6% [1][10] - Revenues reached $15.35 billion, surpassing the Zacks Consensus Estimate by 1.49% and showing a year-over-year growth of 9.7% [2][10] Revenue Breakdown - Total Annual Recurring Revenues (ARR) were $31 billion, up 3%, with product ARR growth of 6% [2] - Total subscription revenues amounted to $7.83 billion, representing 51% of Cisco's total revenues [2] - Software revenue increased significantly by 36.9% year over year to $5.6 billion [2] Segment Performance - Networking revenues were $8.29 billion, up 21% year over year [3] - Security revenues decreased by 4% year over year to $2.01 billion [3] - Collaboration revenues increased by 6% year over year to $1.05 billion [3] - Observability revenues remained stable at $277 million year over year [3] Product and Service Revenue - Total product revenues were $11.64 billion, accounting for 75.8% of total revenues, with a year-over-year increase of 13.8% [4] - Service revenues were $3.70 billion, making up 24.2% of total revenues, down 1.3% year over year [4] Geographic Performance - Revenues from the Americas increased by 8% year over year to $8.84 billion [5] - EMEA revenues climbed 15% year over year to $4.42 billion [5] - APJC revenues rose by 8% year over year to $2.08 billion [5] Operating Metrics - Non-GAAP gross margin for the second quarter was 67.5%, a contraction of 120 basis points year over year [6] - Non-GAAP operating income was $5.31 billion, reflecting a year-over-year increase of 9.3% [7] - Operating margin contracted by 10 basis points year over year to 34.6% [7] Financial Position - As of January 24, 2026, cash and cash equivalents totaled $15.8 billion, up from $15.7 billion as of October 25, 2025 [8] - Total debt increased to $30 billion from $28.1 billion over the same period [8] Remaining Performance Obligations - Remaining performance obligations (RPO) were $43.4 billion, up 5% year over year [9] - Product RPO increased by 8% year over year, with long-term RPO at $11.8 billion, up 11% year over year [9] Future Guidance - For Q3 fiscal 2026, Cisco expects non-GAAP earnings between $1.02 and $1.04 per share, with revenues projected in the range of $15.4 billion to $15.6 billion [12] - For fiscal 2026, the company anticipates non-GAAP earnings between $4.13 and $4.17 per share and revenues between $61.2 billion and $61.7 billion [12] Shareholder Returns - In Q2 fiscal 2026, Cisco returned $3 billion to shareholders through share buybacks and dividends [11]

Market Overview - Major stock indices experienced significant declines, with the Dow down 496.77 points (1.0%) at 49,624.63, the Nasdaq down 341.43 points (1.5%) at 22,725.04, and the S&P 500 down 68.04 points (1.0%) at 6,873.43 [1] Technology Sector - The sell-off was partly driven by a steep drop in Cisco Systems (CSCO), which fell by 10.7% despite reporting better-than-expected fiscal second-quarter results, as the company provided disappointing guidance for the current quarter [2] - The NYSE Arca Networking Index declined by 3.0% due to Cisco's performance [2] Transportation and Other Sectors - Transportation stocks saw a substantial decline, with the Dow Jones Transportation Average down by 5.1% [3] - Gold stocks weakened significantly, reflected by a 3.9% slump in the NYSE Arca Gold Bugs Index, attributed to a sharp decline in gold prices [3] - Financial, biotechnology, and oil service stocks also faced considerable weakness, while telecom and utilities stocks showed resilience against the downward trend [3] Economic Indicators - The Labor Department reported that initial jobless claims decreased to 227,000, down by 5,000 from the previous week's revised level of 232,000, which was less than economists' expectations of a drop to 220,000 [4][5] - Existing home sales pulled back more than expected in January, as reported by the National Association of Realtors [5] Inflation Outlook - Forecasts suggest that the core Consumer Price Index (CPI) could ease to around 2.5%, marking a near five-year low, which could influence market dynamics if inflation aligns with or falls below expectations [6] - A softer inflation print could maintain rate cuts and potentially restore upward momentum in risk assets [6] International Markets - In Asia-Pacific trading, South Korea's Kospi rose by 3.1%, while Hong Kong's Hang Seng Index fell by 0.9%, and Japan's Nikkei 225 Index closed marginally lower [6] - European markets showed mixed results, with the U.K.'s FTSE 100 Index down by 0.6%, while Germany's DAX Index rose by 0.1% and France's CAC 40 Index increased by 0.5% [7] Bond Market - Treasuries moved back to the upside, with the yield on the benchmark ten-year note down by 4.7 basis points at 4.125% [7]

Market Overview - US stocks experienced a significant decline, with the Dow Jones Industrial Average falling over 500 points, approximately 1%, ending a three-day winning streak [1] - The S&P 500 dropped by 1.2%, while the Nasdaq Composite fell nearly 2% [1] Earnings and Sector Performance - Investors are closely analyzing earnings reports for insights into sectors at risk from AI disruption, which has negatively impacted software stocks [2] - Cisco Systems saw its stock decline over 11% due to a pessimistic profit outlook despite an increase in sales [2] - Major tech companies like Nvidia and Microsoft both experienced declines of over 1%, while Meta, Amazon, and Apple faced even larger losses [2] Economic Indicators - Attention is shifting towards the upcoming Consumer Price Index report, with expectations that a softer reading could indicate easing price pressures while maintaining economic growth [3] - Recent jobless claims data showed a smaller decline than anticipated, following a nonfarm payrolls report indicating the US economy added twice as many jobs as expected in January [4] - The robust labor market, combined with persistent inflation, is likely to complicate Federal Reserve policy expectations, reducing the chances of near-term interest rate cuts [4] Company Highlights - McDonald's shares increased after reporting earnings that exceeded expectations [5] - Upcoming earnings reports to watch include Coinbase, Applied Materials, and Rivian, all scheduled for release after market close [5]

Group 1 - Micron's stock has increased by 3.7% due to the tight supply and rising prices of high-bandwidth memory (HBM) [1] - Cisco Systems reported strong earnings but warned that high memory costs may impact future profits, highlighting the tightness in the DRAM memory chip market [1] - Samsung has started shipping its latest HBM4 chips to capitalize on high prices, while SK Hynix is also increasing HBM production [2] Group 2 - Micron has begun high-volume production of HBM4, contributing to the competitive landscape in the HBM market [2] - The current tight supply and rising prices are boosting Micron's profits, but increased production from competitors may eventually lead to a supply surplus and lower prices [4] - The semiconductor industry remains cyclical, indicating that the current boom for Micron may not be sustainable in the long term [5]

Industry Overview - Cybersecurity has become a top priority for organizations due to continuous attacks such as ransomware, phishing, and data breaches, which threaten financial stability and brand reputation [1] - The global cybersecurity market is projected to grow from $218.98 billion in 2025 to nearly $699.39 billion by 2034, reflecting a compound annual growth rate of 13.8% [2] Technological Advancements - Traditional security tools are becoming inadequate as cyberattacks evolve, leading to the integration of artificial intelligence (AI) to enhance threat detection and response [3] - AI enables a shift from reactive to proactive cybersecurity measures, allowing companies to automate detection and response processes [3] Key Players - Companies like Palo Alto Networks, CrowdStrike Holdings, and Fortinet are capitalizing on the growing demand for cybersecurity solutions tailored to modern threats [2] - Palantir Technologies is enhancing its AI capabilities through its Foundry and Gotham platforms, focusing on sectors like defense, healthcare, and finance [7][8] - Cisco Systems is integrating AI into its cybersecurity products, with significant demand for AI infrastructure reflected in $2.1 billion worth of orders in Q2 fiscal 2026 [11] - A10 Networks is embedding AI across its security solutions, including AI-native security tools and advanced DDoS solutions, positioning itself as a key player in enterprise AI adoption [14][16] Market Dynamics - The increasing complexity of digital networks and new compliance requirements are driving the demand for advanced cybersecurity solutions [2] - Companies are leveraging AI to improve their product offerings, thereby enhancing their competitive edge in a rapidly growing industry [4][13]

Market Overview - The U.S. stock market showed mixed results with the Dow Jones up by 0.46%, while the Nasdaq fell by 0.31% and the S&P 500 increased by 0.09% [1] - Major tech stocks experienced varied performance, with Nvidia rising by 0.7% and Amazon and Apple both declining by over 1% [3] Semiconductor Sector - Storage concept stocks continued to perform well, with Seagate Technology rising by 11%, Western Digital by over 8%, SanDisk by over 8%, and Micron Technology by over 3% [3] - Micron Technology announced that its new NAND flash wafer plant is on track to begin shipments in the second half of 2028, with HBM4 customer shipments expected to increase in the first quarter of 2028, one quarter ahead of schedule. The CFO indicated that market demand exceeds supply, and this tight supply situation is expected to persist until after 2026 [3] Retail Sector - Major U.S. retailers saw collective gains, with Walmart rising over 2% to reach a historical high, Macy's up nearly 4%, Kohl's up nearly 3%, and Ross Stores up over 2% [4] - McDonald's reported a 9.5% year-over-year revenue increase to $7 billion for the fourth quarter, with adjusted earnings per share of $3.12, exceeding expectations [4] Software Sector - Software stocks faced significant sell-offs, with Cisco's stock plummeting over 9%, marking its largest drop in 2023. Despite an increase in AI demand leading to an upward revision of annual guidance, the gross margin guidance for the current quarter fell short of expectations [4] - Other software stocks showed mixed results post-earnings, with Fastly surging over 60%, HubSpot up over 10%, and Applovin dropping over 14% [4][5] Chinese Stocks - Chinese stocks listed in the U.S. experienced a collective decline, with the Nasdaq Golden Dragon China Index falling by 1.4%. Tencent Music dropped nearly 6%, while other companies like Huya, Boss Zhipin, and Beike fell over 4% [6] Commodity Market - Precious metals saw a decline, with spot gold down by 0.37% at $5065 per ounce and spot silver down by 1.43% at $83 per ounce [8] - International oil prices also fell, with Brent crude futures down about 1% to $68.75 per barrel and WTI crude futures down about 1% to $63.99 per barrel [8] Cryptocurrency Market - The majority of cryptocurrencies saw an increase, with Bitcoin rising by 0.96%, remaining below $68,000. In the last 24 hours, 118,000 individuals experienced liquidations [10][11]

智通财经APP获悉，思科(CSCO.US)周四成为市场关注焦点。尽管这家网络设备巨头公布的业绩与指引 被部分华尔街人士评价为"稳健"，内存成本大幅上行引发投资者对毛利率的担忧，思科股价盘初跌超 10%。 美国银行分析师Tal Liani指出，思科第四财季的市场预期"偏保守"。公司给出的第三财季收入指引同比 增长9.5%，明显高于市场预期的7.3%。不过，他同时表示，更强劲的硬件增长、更高的云业务占比， 以及内存价格同比暴涨约400%，正在侵蚀公司毛利率。 Liani在报告中称，产品提价有望对冲部分成本压力。近期园区交换机与计算相关产品价格已上调约 3%，在年初至今内存价格持续走高的背景下，进一步提价的可能性仍然存在。管理层预计，毛利率压 力在短期内仍将持续，但通过运营效率提升，或可抵消影响，从而维持运营利润率的稳定。Liani维持 对思科的"买入"评级和95美元目标价，并认为公司正同时受益于强劲的硬件周期和网络升级周期。 他补充称，思科在园区网络更新周期中处于有利位置，服务器、Wi-Fi以及工业物联网解决方案有望带 来额外增长。安全业务预计全年仍将偏弱，但SASE、XDR以及升级后的防火墙等新产品需求健康，当 ...

Cisco Systems (NASDAQ: CSCO) stock tumbled 9.7% through 10:10 a.m. ET Thursday despite beating on both top and bottom lines in its fiscal Q2 2026 earnings report last night. Analysts expected Cisco to earn $1.02 per share on $15.1 billion in sales, but Cisco actually earned $1.04 per share (adjusted for one-time items) on sales of $15.3 billion. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now, when you join Stock Advisor. See the st ...

思科股价一度下跌7.4%，创2023年以来最大跌幅。 本文源自：金融界AI电报 ...

Key Takeaways Cisco fell 7% post Q2 beat as fiscal 2026 revenue outlook missed Wall Street expectations. Cisco expects up to $61.7B in fiscal 2026 revenues and over $3B AI revenues from hyperscalers.Investors may consider ETFs like IYZ and CIBR to gain exposure while limiting single-stock risk. Shares of Cisco Systems (CSCO) slipped 7% in extended trading yesterday (as cited in CNBC), despite the company beating analysts’ expectations on both the top and bottom lines in the second quarter of fiscal 2026. Th ...