As of Q2'26 (2026-01-24), Cisco's latest operating income stands at USD 3.78B, reflecting a year-over-year growth rate of 21.5%. This marks a continued recovery from previous quarters, with operating income reaching its highest level since Q3'23. Over the period from Q3'23 to Q2'26, Cisco's operating income exhibited significant volatility. After peaking at USD 4.28B in Q1'24, the company experienced a sharp decline, bottoming out at USD 2.19B in Q3'24, accompanied by negative YoY growth rates exceeding -44%. However, from Q4'24 onward, operating income rebounded steadily, with YoY growth turning positive in Q2'25 and accelerating to over 46% in Q3'25. The latest quarters indicate a return to robust growth and a strong recovery in operational performance.