Cisco (NASDAQ: CSCO) Q1 2027 Earnings Preview: Cloud, AI, and Analyst Expectations

• Cisco's upcoming fiscal first-quarter 2027 report will focus on cloud growth and AI demand.
• Consensus estimates project revenue of $18.1 billion, operating income of $6.5 billion, and earnings per share of $1.33.
• Morgan Stanley downgraded Cisco's stock to Equal-Weight and cut its price target to $120.

Cisco (NASDAQ: CSCO) heads into its fiscal first-quarter 2027 report with cloud growth and AI demand in focus. Investors are watching AI infrastructure orders, gross margins and the fiscal 2027 outlook, as highlighted by Benzinga. No cloud-specific growth figure is stated.

Consensus estimates call for revenue of $18.1 billion, operating income of $6.5 billion and earnings per share of $1.33. That represents year-over-year growth of 22%, 27% and 33%, respectively, as highlighted by Seeking Alpha.

A separate analyst estimate puts revenue at $18.12 billion and earnings at $1.32 per share, as highlighted by Benzinga. Cisco’s guidance calls for revenue of $18 billion to $18.2 billion and adjusted earnings of $1.32 to $1.34 per share. The company is scheduled to report after the market closes on Nov. 12.

The prior quarter gives investors a point of comparison. Fiscal fourth-quarter 2026 revenue rose 18% year over year to a record $17.25 billion, above the $16.82 billion estimate. Adjusted earnings of $1.22 per share exceeded the $1.17 estimate, as highlighted by Benzinga.

Cisco closed Wednesday at $100.76, up 2.7%, as highlighted by Benzinga. Morgan Stanley analyst Meta Marshall downgraded the stock from Overweight to Equal-Weight on Nov. 5 and cut the price target from $135 to $120.