Atlas Research Note

Cisco Q1 FY27: The AI Number Goes to $9 Billion, and the Rest of Cisco Grows Too

Ben Bajarin · November 13, 2026

Creative Strategies earnings read | November 12, 2026 | Cisco first-quarter fiscal 2027 results and conference call, November 12, 2026 Cisco grew revenue 24% to a record $18.5 billion, raised its fiscal 2027 hyperscale AI revenue target to $9 billion from $7.5 billion and raised the full-year revenue guide by $2.5 billion to $74.8 billion to $75.8 billion. Product orders grew 21%, and orders outside the hyperscalers grew 14%, on top of growth a year ago. Operating view: The AI number was the headline, but the more useful part of the quarter is that the rest of Cisco is growing at about 11% as well.

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Notes

Cisco Q1 FY27: The AI Number Goes to $9 Billion, and the Rest of Cisco Grows Too

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