Name: Cisco Systems Inc. (NASDAQ:CSCO) | Income Statement (Quarterly)
Creator: Stock Analysis on Net

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Download chart

Cisco Systems Inc., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Jul 25, 2026	Apr 25, 2026	Jan 24, 2026	Oct 25, 2025	Jul 26, 2025	Apr 26, 2025	Jan 25, 2025	Oct 26, 2024	Jul 27, 2024	Apr 27, 2024	Jan 27, 2024	Oct 28, 2023	Jul 29, 2023	Apr 29, 2023	Jan 28, 2023	Oct 29, 2022	Jul 30, 2022	Apr 30, 2022	Jan 29, 2022	Oct 30, 2021	Jul 31, 2021	May 1, 2021	Jan 23, 2021	Oct 24, 2020
Product	13,459)	12,117)	11,642)	11,077)	10,886)	10,374)	10,234)	10,114)	9,858)	9,024)	9,232)	11,139)	11,650)	11,092)	10,155)	10,245)	9,688)	9,448)	9,353)	9,529)	9,716)	9,139)	8,572)	8,587)
Services	3,793)	3,724)	3,707)	3,806)	3,787)	3,775)	3,757)	3,727)	3,784)	3,678)	3,559)	3,529)	3,553)	3,479)	3,437)	3,387)	3,414)	3,387)	3,367)	3,371)	3,410)	3,664)	3,388)	3,342)
Revenue	17,252)	15,841)	15,349)	14,883)	14,673)	14,149)	13,991)	13,841)	13,642)	12,702)	12,791)	14,668)	15,203)	14,571)	13,592)	13,632)	13,102)	12,835)	12,720)	12,900)	13,126)	12,803)	11,960)	11,929)
Product	(5,029)	(4,613)	(4,205)	(3,934)	(4,194)	(3,688)	(3,713)	(3,526)	(3,644)	(3,295)	(3,443)	(3,957)	(4,237)	(4,136)	(4,038)	(4,179)	(3,966)	(3,606)	(3,569)	(3,673)	(3,628)	(3,422)	(3,044)	(3,206)
Services	(1,160)	(1,148)	(1,172)	(1,204)	(1,199)	(1,183)	(1,167)	(1,194)	(1,217)	(1,134)	(1,131)	(1,154)	(1,218)	(1,203)	(1,127)	(1,107)	(1,111)	(1,108)	(1,102)	(1,174)	(1,154)	(1,196)	(1,132)	(1,142)
Cost of sales	(6,189)	(5,761)	(5,377)	(5,138)	(5,393)	(4,871)	(4,880)	(4,720)	(4,861)	(4,429)	(4,574)	(5,111)	(5,455)	(5,339)	(5,165)	(5,286)	(5,077)	(4,714)	(4,671)	(4,847)	(4,782)	(4,618)	(4,176)	(4,348)
Gross margin	11,063)	10,080)	9,972)	9,745)	9,280)	9,278)	9,111)	9,121)	8,781)	8,273)	8,217)	9,557)	9,748)	9,232)	8,427)	8,346)	8,025)	8,121)	8,049)	8,053)	8,344)	8,185)	7,784)	7,581)
Research and development	(2,431)	(2,377)	(2,355)	(2,400)	(2,380)	(2,335)	(2,299)	(2,286)	(2,179)	(1,948)	(1,943)	(1,913)	(1,953)	(1,962)	(1,855)	(1,781)	(1,682)	(1,708)	(1,670)	(1,714)	(1,713)	(1,697)	(1,527)	(1,612)
Sales and marketing	(2,952)	(2,855)	(2,881)	(2,871)	(2,818)	(2,724)	(2,672)	(2,752)	(2,841)	(2,559)	(2,458)	(2,506)	(2,579)	(2,526)	(2,384)	(2,391)	(2,349)	(2,209)	(2,266)	(2,261)	(2,448)	(2,317)	(2,277)	(2,217)
General and administrative	(679)	(661)	(688)	(733)	(706)	(739)	(752)	(795)	(763)	(736)	(642)	(672)	(690)	(641)	(582)	(565)	(489)	(517)	(544)	(551)	(521)	(603)	(484)	(544)
Amortization of purchased intangible assets	(226)	(228)	(231)	(231)	(254)	(244)	(265)	(265)	(268)	(297)	(66)	(67)	(70)	(70)	(71)	(71)	(73)	(77)	(79)	(84)	(79)	(61)	(39)	(36)
Restructuring and other charges	(511)	1)	(36)	(147)	(35)	(34)	(10)	(665)	(112)	(542)	(12)	(123)	(203)	(87)	(243)	2)	2)	—)	(3)	(5)	(8)	(42)	(234)	(602)
Operating expenses	(6,799)	(6,120)	(6,191)	(6,382)	(6,193)	(6,076)	(5,998)	(6,763)	(6,163)	(6,082)	(5,121)	(5,281)	(5,495)	(5,286)	(5,135)	(4,806)	(4,591)	(4,511)	(4,562)	(4,615)	(4,769)	(4,720)	(4,561)	(5,011)
Operating income	4,264)	3,960)	3,781)	3,363)	3,087)	3,202)	3,113)	2,358)	2,618)	2,191)	3,096)	4,276)	4,253)	3,946)	3,292)	3,540)	3,434)	3,610)	3,487)	3,438)	3,575)	3,465)	3,223)	2,570)
Interest income	220)	214)	210)	222)	227)	250)	238)	286)	270)	411)	324)	360)	312)	262)	219)	169)	129)	115)	111)	121)	130)	153)	161)	174)
Interest expense	(373)	(377)	(370)	(350)	(368)	(403)	(404)	(418)	(418)	(357)	(120)	(111)	(111)	(109)	(107)	(100)	(93)	(90)	(88)	(89)	(98)	(111)	(113)	(112)
Other income (loss), net	822)	242)	25)	156)	53)	(102)	(60)	41)	(74)	(10)	(139)	(83)	17)	(142)	11)	(134)	(54)	166)	93)	187)	128)	84)	(16)	49)
Interest and other income (loss), net	669)	79)	(135)	28)	(88)	(255)	(226)	(91)	(222)	44)	65)	166)	218)	11)	123)	(65)	(18)	191)	116)	219)	160)	126)	32)	111)
Income before (provision for) benefit from income taxes	4,933)	4,039)	3,646)	3,391)	2,999)	2,947)	2,887)	2,267)	2,396)	2,235)	3,161)	4,442)	4,471)	3,957)	3,415)	3,475)	3,416)	3,801)	3,603)	3,657)	3,735)	3,591)	3,255)	2,681)
(Provision for) benefit from income taxes	(1,074)	(666)	(471)	(531)	(449)	(456)	(459)	444)	(234)	(349)	(527)	(804)	(513)	(745)	(642)	(805)	(601)	(757)	(630)	(677)	(726)	(728)	(710)	(507)
Net income	3,859)	3,373)	3,175)	2,860)	2,550)	2,491)	2,428)	2,711)	2,162)	1,886)	2,634)	3,638)	3,958)	3,212)	2,773)	2,670)	2,815)	3,044)	2,973)	2,980)	3,009)	2,863)	2,545)	2,174)

Revenue exhibits a long-term growth trajectory, rising from 11,929 million USD in October 2020 to 17,252 million USD by July 2026. While growth was generally consistent through mid-2023, a notable contraction occurred in early 2024, with revenue dipping to 12,702 million USD in April 2024 before resuming a strong upward trend.

Revenue Composition: Product revenue serves as the primary growth driver, increasing from 8,587 million USD to 13,459 million USD over the analyzed period. In contrast, services revenue remained relatively stagnant, fluctuating within a narrow band between 3,342 million USD and 3,806 million USD, indicating that top-line expansion is heavily dependent on hardware or software product sales rather than recurring service contracts.
Gross Profitability: Gross margin followed a positive trend, peaking at 11,063 million USD in July 2026. Cost of sales increased in correlation with product revenue, though the gross margin expanded from 7,581 million USD to 11,063 million USD, suggesting an improvement in production efficiency or a shift toward higher-margin product offerings.
Operating Expense Analysis: Research and development and sales and marketing expenses showed gradual increases over time, with R&D rising from 1,612 million USD to 2,431 million USD. A significant shift occurred in April 2024, where amortization of purchased intangible assets spiked from approximately 70 million USD to nearly 300 million USD per quarter, suggesting the integration of a major acquisition. Restructuring charges remained volatile, with periodic spikes, most notably in April 2024 and July 2026.
Operating Income Trends: Operating income demonstrated volatility, characterized by a peak of 4,276 million USD in October 2023 followed by a sharp decline to 2,191 million USD in April 2024. This decline coincides with increased operating expenses and restructuring charges. However, a recovery phase is evident, with operating income climbing back to 4,264 million USD by July 2026.
Net Income and Non-Operating Factors: Net income fluctuated between a low of 1,886 million USD in April 2024 and a high of 3,958 million USD in July 2023. Interest expenses rose sharply starting in April 2024, increasing from roughly 110 million USD to over 350 million USD per quarter. The final period in July 2026 shows a substantial boost in net income to 3,859 million USD, heavily influenced by a significant spike in other income, which reached 822 million USD.

AI Ask an analyst for more

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.

How can I help you?

Cisco Systems Inc. (NASDAQ:CSCO)

Income StatementQuarterly Data

Income Statement
Quarterly Data