Cisco Guides $63B FY2026 Revenue, Shares +18%

Cisco announced $1 billion AI‑focused restructuring, cutting fewer than 4,000 jobs (under 5% workforce) with cash‑based severance charges.
FY2026 revenue guidance raised to $62.8‑$63 billion, implying 14.5% YoY Q4 sales growth versus Street’s 7.8% estimate.
Q3 record revenue hit $15.8 billion (+12% YoY), beating consensus $15.54 billion, while AI and networking orders surged over 50% YoY.
Shares surged more than 18% in pre‑market trading; BofA raised Cisco’s price target to $114 and reiterated a Buy rating.