Cisco Earnings November 12, 2026: What CSCO Did the Day After Every Report Since 2003 (93 Reports)
Cisco reports results for the first quarter of its 2027 fiscal year after the stock market closes on Thursday, November 12, 2026, and holds its conference call at 4:30 PM Eastern, 1:30 PM Pacific, according to Cisco's investor relations site. The quarter ended October 24. Friday, November 13 is the first full session to trade on the numbers.
Across all 93 Cisco earnings reports since August 2003, the stock rose the next session 46 times and fell 47 times. The typical move was 4.8% in either direction, and 45 of the 93 moved the stock 5% or more. November, Cisco's fiscal first quarter, has leaned lower than the other three report months: its median next-day move is -2.1%, the weakest of the four.
- The report: Thursday, November 12, after the close; call at 4:30 PM Eastern.
- Cisco's own guidance: revenue of $18.0 billion to $18.2 billion and non-GAAP EPS of $1.32 to $1.34, from its August 12 release.
- Analyst consensus: about $1.32 to $1.33 a share on about $18.1 billion of revenue, per TipRanks and Zacks.
- The stock going in: $98.15 at Tuesday's close, down 14.7% over the last 20 sessions and 20.5% below its August 12 close, the day of the last report.
What Cisco guided, and what analysts expect
Cisco set the bar itself on August 12, when it reported fiscal 2026 results. Its guidance for the quarter that ended October 24, from the press release filed with the SEC, sits next to the two consensus figures below.
| Measure | Cisco guidance (Aug 12) | Consensus (or last quarter) |
|---|---|---|
| Revenue | $18.0B to $18.2B | $18.09B (Zacks) to $18.11B (TipRanks) |
| Non-GAAP EPS | $1.32 to $1.34 | $1.32 (TipRanks) to $1.33 (Zacks) |
| GAAP EPS | $1.08 to $1.10 | Not published by either source |
| Non-GAAP gross margin | 65% to 66% | Q4 was 66.3%, down from 68.4% a year earlier |
| Non-GAAP operating margin | 35.5% to 36.5% | Q4 was 35.9% |
Both consensus figures sit inside Cisco's own ranges. For the full fiscal year, Cisco guided to revenue of $72.2 billion to $73.4 billion and non-GAAP EPS of $5.05 to $5.11, and it said it expects about $7.5 billion of AI infrastructure revenue from hyperscalers in fiscal 2027, up from about $4 billion in fiscal 2026.
What moved the stock in August
Cisco's fourth quarter beat on revenue and adjusted EPS, with total product orders up 35% from a year earlier and $4 billion of AI infrastructure orders from hyperscalers, bringing fiscal 2026 to $9.3 billion. The stock still opened 8.0% lower on August 13 and closed down 8.4%. The concern was margins and the quality of growth, as Zacks summarized it: non-GAAP gross margin fell to 66.3% from 68.4% as hardware made up more of the mix and memory costs rose, and Cisco said security growth should normalize toward the high single digits after a quarter helped by large Splunk deals.
Those are the lines that moved the stock last time: the gross margin against the 65% to 66% guide, AI infrastructure orders against the $9.3 billion pace, and whether the full-year revenue range of $72.2 billion to $73.4 billion changes.
How we measured the 93 report days
We pulled every Form 8-K Cisco filed with results of operations from SEC EDGAR: the Item 2.02 filings since November 2004 and the Item 12 filings that carried earnings before that, starting with the report of August 5, 2003. Every one was accepted after 4:00 PM Eastern, so the reaction session is the next trading day in all 93 cases. Moves come from Yahoo Finance daily bars adjusted for splits and dividends: the close-to-close change, the opening gap, the open-to-close move and the S&P 500's move the same day. Arista Networks, a direct competitor in data-center switching, is measured on the 49 Cisco report days since its 2014 listing. For 2010 onward it is the same method as our week-ahead post for November 9-13. This is descriptive history, not a forecast.
All 93 reports at a glance
| Measure | 2003 to 2009 | 2010 to 2019 | 2020 to 2026 | All 93 |
|---|---|---|---|---|
| Reports | 26 | 40 | 27 | 93 |
| Up next session | 12 | 19 | 15 | 46 |
| Down next session | 14 | 21 | 12 | 47 |
| Median swing, either direction | 4.7% | 5.0% | 4.8% | 4.8% |
| Median move | -1.7% | -0.7% | +1.2% | -0.7% |
| Moves of 5% or more | 13 | 20 | 12 | 45 |
| Moves of 10% or more | 2 | 6 | 4 | 12 |
| Closed in the direction it gapped | 21 | 39 | 23 | 83 |
Three things stand out. The direction has been a coin flip: 46 up and 47 down. The size has not: the median report day moved Cisco 4.8%, about eight times the S&P 500's median move of 0.58% on the same days, and almost half of all reports moved it 5% or more. And the 2020s have been kinder than the decades before, with 15 of 27 reports up and a median move of +1.2%, after -1.7% and -0.7% in the two earlier periods.
November has been Cisco's weakest report month
| Report month | Reports | Up | Down | Median swing | Median move | Moves of 5%+ |
|---|---|---|---|---|---|---|
| November (fiscal Q1) | 23 | 11 | 12 | 5.5% | -2.1% | 14 |
| February (Q2) | 23 | 13 | 10 | 3.0% | +1.3% | 8 |
| May (Q3) | 23 | 10 | 13 | 4.5% | -1.3% | 8 |
| August (Q4) | 24 | 12 | 12 | 6.6% | -0.1% | 15 |
In recent years Cisco has given its full-year outlook with the August report, so November is the first check against it. November has the lowest median move of the four months, -2.1%, and 14 of its 23 reports moved the stock at least 5%. August, when the full-year outlook comes out, has the widest median swing at 6.6%. February has been the calmest and the most often positive: a median swing of 3.0% and 13 of 23 up.
Every November report since 2003
| Reaction day | Next-session move | Opening gap | Open to close | S&P 500 same day |
|---|---|---|---|---|
| Nov 13, 2025 | +4.6% | +5.4% | -0.7% | -1.7% |
| Nov 14, 2024 | -2.1% | -0.3% | -1.8% | -0.6% |
| Nov 16, 2023 | -9.8% | -11.0% | +1.3% | +0.1% |
| Nov 17, 2022 | +5.0% | +4.1% | +0.9% | -0.3% |
| Nov 18, 2021 | -5.5% | -7.1% | +1.7% | +0.3% |
| Nov 13, 2020 | +7.1% | +6.5% | +0.5% | +1.4% |
| Nov 14, 2019 | -7.3% | -6.0% | -1.4% | +0.1% |
| Nov 15, 2018 | +5.5% | +5.6% | -0.1% | +1.1% |
| Nov 16, 2017 | +5.2% | +5.7% | -0.4% | +0.8% |
| Nov 17, 2016 | -4.8% | -5.3% | +0.5% | +0.5% |
| Nov 13, 2015 | -5.8% | -5.5% | -0.3% | -1.1% |
| Nov 13, 2014 | +2.3% | -0.7% | +3.0% | +0.1% |
| Nov 14, 2013 | -11.0% | -12.7% | +2.1% | +0.5% |
| Nov 14, 2012 | +4.8% | +7.1% | -2.2% | -1.4% |
| Nov 10, 2011 | +5.7% | +6.1% | -0.4% | +0.9% |
| Nov 11, 2010 | -16.2% | -16.5% | +0.3% | -0.4% |
| Nov 5, 2009 | +2.7% | +3.3% | -0.5% | +1.9% |
| Nov 6, 2008 | -2.6% | -4.0% | +1.5% | -5.0% |
| Nov 8, 2007 | -9.5% | -7.1% | -2.6% | -0.1% |
| Nov 9, 2006 | +6.4% | +9.3% | -2.7% | -0.5% |
| Nov 10, 2005 | -3.4% | -2.8% | -0.6% | +0.8% |
| Nov 10, 2004 | -6.6% | -3.9% | -2.8% | -0.1% |
| Nov 6, 2003 | +5.0% | +5.3% | -0.3% | +0.6% |
November holds the worst report day of all 93, -16.2% on November 11, 2010, and three other Novembers fell more than 9%: 2007 at -9.5%, 2013 at -11.0% and 2023 at -9.8%. The best November was +7.1% in 2020. The last two split: -2.1% in 2024 and +4.6% in 2025.
The setup going in: Cisco is down about 15% in a month
Cisco closed Tuesday, November 10 at $98.15, down 14.7% over the previous 20 sessions and 20.5% below its August 12 close. It is still up 29.8% for 2026, per Yahoo Finance. We split the 93 reports by how the stock did in the 20 sessions before each one.
| 20 sessions before the report | Reports | Up next session | Down | Median move | Median swing |
|---|---|---|---|---|---|
| Up 5% or more | 20 | 10 | 10 | -0.7% | 4.7% |
| Between -5% and +5% | 55 | 24 | 31 | -1.6% | 4.8% |
| Down 5% or more | 18 | 12 | 6 | +3.0% | 6.7% |
When Cisco slid 5% or more into a report, it rose the next session 12 times out of 18, with a median move of +3.0% and bigger swings than usual. Read that with care. Eighteen reports is a small sample, and across all 93 the link between the run-up and the next-day move is weak, a correlation of -0.12. This setup is also outside the record: no Cisco report since 2003 came after a 20-session slide as deep as the one through Tuesday. The deepest was -11.8% before the August 2011 report, and only four reports followed slides of 10% or more: three rose, by +3.2%, +16.0% and +9.6%, and one, August 2019, fell 8.6%.
Does Cisco's report move Arista?
On the 49 Cisco report days since Arista's 2014 listing, Arista moved in the same direction as Cisco 34 times, and the two moves had a correlation of +0.43. The size did not carry over. Arista's median move on those days was 1.4% in either direction, the same as its median move on any trading day since 2014. Even on the 21 days Cisco moved 5% or more, Arista went the same way 16 times, by a median of only 1.4%.
| Reaction day | Cisco | Arista | S&P 500 |
|---|---|---|---|
| Aug 13, 2026 | -8.4% | -3.3% | +0.7% |
| May 14, 2026 | +13.4% | +5.1% | +0.8% |
| Feb 12, 2026 | -12.3% | -3.9% | -1.6% |
| Nov 13, 2025 | +4.6% | -3.5% | -1.7% |
| Aug 14, 2025 | -1.6% | -1.1% | +0.0% |
| May 15, 2025 | +4.8% | -2.2% | +0.4% |
| Feb 13, 2025 | +2.1% | +0.1% | +1.0% |
| Nov 14, 2024 | -2.1% | -2.3% | -0.6% |
The pattern held in 2026: Cisco's -12.3% in February came with -3.9% for Arista, and its +13.4% in May with +5.1%. A Cisco report tells you something about the direction of networking stocks that day, much less about the size.
The opening gap has usually been the whole day
Because Cisco reports after the close, the first price the market sets is the next morning's open. The median opening gap across all 93 reports was 4.9% in either direction, and the median move from that open to the close was -0.3%. The stock finished in the direction it gapped on 83 of 93 report days; the gap reversed by the close only 10 times.
What came after was smaller. From the reaction-day close, the stock was higher five sessions later 50 times out of 93, with a median of +0.2%, and 20 sessions later 56 times, with a median of +1.1%. After the 24 report-day drops of 5% or more, the next 20 sessions were a coin flip: 12 up, 12 down, median +0.1%. A big report-day loss has not reliably been followed by a bounce.
The biggest Cisco report days since 2003
- -16.2% on Nov 11, 2010
- -14.2% on Feb 10, 2011
- -13.7% on May 19, 2022
- -12.3% on Feb 12, 2026
- -11.2% on Aug 13, 2020
- +16.0% on Aug 11, 2011
- +14.4% on Aug 9, 2006
- +13.4% on May 14, 2026
- +12.6% on May 16, 2013
- +9.6% on Feb 11, 2016
Two of the ten came this year. The last three reports, -12.3% in February, +13.4% in May and -8.4% in August, are the widest run of three in a row since 2011, a long way from Cisco's reputation as a slow-moving dividend stock.
How we handle a report like this, and what we leave alone
We do not forecast earnings, and the software does not trade the print itself. Three settings do the work. Earnings awareness is an opt-in rule, off by default, that keeps the auto-trader from opening a position in a stock whose report falls inside a window you pick, 3, 7 or 14 days ahead. The daily spend limit caps how much new money goes to work on any one morning. A fixed or trailing stop on every position decides the exit before the number, not during it. The settings glossary explains each one, and you can set those rules up in a few minutes.
One limit applies to every stop order: once its price is touched it becomes a market order, so when a stock gaps past it at the open, the fill comes near the open, not at the stop. Investor.gov explains how stop orders execute. With Cisco the gap has been the day on 83 of 93 reports, so the size of a position held into the report matters more than where its stop sits. Our test of trailing stops from 1% to 8% and our count of how often the market drops 1%, 2% or 3% in a day cover the rest of that math. If you want to see how the rules behave on a sample account before connecting a broker, start with the demo.
The rest of the calendar
Cisco shares Thursday's after-close slot with Applied Materials, whose report history is in our November 9-13 week-ahead post. Nvidia reports on November 17, and its record is in what NVDA did the day after every report since 2010. Every date for the month is on the November 2026 stock market calendar, and how the S&P 500 does during earnings season covers the market-wide pattern. Nebius reports before Thursday's open; its eight report days and what it did after each CoreWeave report are in what NBIS did on every report day since 2024.
Quick answers
When does Cisco report earnings?
After the market closes on Thursday, November 12, 2026, for the quarter that ended October 24. The conference call starts at 4:30 PM Eastern, 1:30 PM Pacific, with a webcast on Cisco's investor relations site, which announced the date on November 3.
What is Cisco expected to earn this quarter?
Cisco guided to non-GAAP EPS of $1.32 to $1.34 on revenue of $18.0 billion to $18.2 billion. TipRanks put consensus at $1.32 and $18.11 billion on November 9, and Zacks at $1.33 and $18.09 billion.
How much does Cisco stock usually move after earnings?
The median move the next session has been 4.8% in either direction across 93 reports since 2003. Forty-five moved the stock 5% or more and 12 moved it 10% or more.
Did Cisco stock go up or down after its last earnings report?
Down. After the August 12 report it opened 8.0% lower on August 13 and closed down 8.4%, even though revenue and adjusted EPS beat estimates.
Has Cisco stock gone up after November earnings?
Eleven times out of 23 since 2003, with a median move of -2.1%, the weakest of its four report months. Last November it rose 4.6%.
Historical figures are for information only. They describe what happened, not what will happen, and nothing here is investment advice.
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