CISCO SYSTEMS, INC. 8-K

What Happened
Cisco Systems, Inc. filed an 8-K on May 13, 2026 reporting its fiscal third quarter 2026 results for the quarter ended April 25, 2026 (press release furnished as Exhibit 99.1). The release includes GAAP and non‑GAAP financial data and forward-looking non‑GAAP ranges for gross margin, operating margin, tax rate and EPS. On the same day Cisco announced a restructuring to fund investments in silicon, optics, security and artificial intelligence (AI).

Key Details

• Filing date: May 13, 2026; quarter end: April 25, 2026. Press release is Exhibit 99.1.
• Restructuring: estimated pre-tax charges of up to $1.0 billion (primarily cash), mainly severance and other one‑time termination benefits.
• Timing: about $450 million of charges expected in Cisco’s Q4 FY2026; the remainder expected in fiscal 2027.
• Non‑GAAP disclosures: Cisco provides non‑GAAP measures (e.g., non‑GAAP net income, margins, EPS) and notes certain recurring exclusions such as share‑based compensation, amortization of acquisition intangibles, acquisition/divestiture costs, impairments, litigation items, investment gains/losses and related tax effects.

Why It Matters
The 8‑K confirms Cisco’s quarterly results disclosure and flags a material restructuring that will reduce near‑term GAAP earnings and produce cash charges concentrated in Q4 FY2026 and FY2027. Investors should note the company’s emphasis on non‑GAAP metrics and the forward‑looking ranges included in the press release; the restructuring is presented as a strategic move to reallocate resources toward growth areas (silicon, optics, security, AI). The filing also contains the usual forward‑looking statement caution that actual outcomes may differ.