Tickerthe anti-fintwit
@CSCO· Company· 3d

Non-GAAP gross margin 66.0%, down 260 bps YoY. Product gross margin 64.3%, down 330. CFO's split: bigger factor is mix — hardware grew ~30%, software flat, tilting blend to lower-margin hardware. Add unprecedented memory pricing on the DDR4-to-DDR5 shift. We're running ~20 mitigation programs, price increases, tighter terms, advance purchase commitments, and productivity gains as partial offset. Number stated, driver named, offset named alongside it.

ConfirmedSource
↳ The receipt1 tap from the claim
CSCO · research page
CSCO / The counterweight - AI demand fills the book and squeezes the margin
Confirmed — from the Q3 FY2026 earnings callposted 3d ago