Cisco Q4 FY2026 Earnings: $9.3 Billion of AI Orders Against an 80% Inventory Build
Cisco's fiscal fourth quarter brought $17.25B of revenue (+18%), $3.86B of net income (+51%), 40% networking order growth and $9.3B of full-year hyperscaler AI orders — alongside inventory up 80% to $5.69B and full-year operating cash flow flat at $14.2B. A Beancount ledger reconciles the income statement, the inventory build and the deferred-revenue counterweight.
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