Cisco reported record Q3 FY2026 results on May 13, with revenue of $15.8 billion, up 12% year-over-year and ahead of consensus, and non-GAAP EPS of $1.06, also beating expectations. Hyperscalers placed $2.1 billion in AI infrastructure orders during the quarter for Cisco’s Silicon One portfolio, advanced networking solutions, and optical products for AI data centers. Following the results, Cisco raised its full-year fiscal 2026 AI infrastructure revenue forecast to $9 billion, representing greater than 4x the level of a year ago, and also raised full-year revenue guidance. The company announced plans to execute a restructure and reduce headcount by fewer than 4,000 roles, about 5% of the workforce, to focus resources on silicon, optics, security and AI.