Cisco reported Q3 FY2026 revenue of $15.8 billion, up 12% year-over-year, beating analyst consensus of $15.56 billion. Networking revenue grew 25% to $8.82 billion. AI infrastructure orders year-to-date reached $5.3 billion; the company raised its full-year AI order forecast to $9 billion (from $5 billion) and its AI revenue forecast to $4 billion (from $3 billion). Cisco simultaneously announced a reduction of fewer than 4,000 employees — under 5% of headcount — at a restructuring cost of up to $1 billion, with roughly $450 million recognized in Q4. Shares rose 17% after hours.