Cisco Systems, Inc.
CSCOQ2 2024(CSCO Q3 FY2024)Estimated3% AI
AI Revenue %
3%
AI Fair Value
$5.3B
AI Revenue (Q)
$381.1M
Total Revenue (Q)
$12.7B
Source: SEC EDGAR 10-Q Filing
View 10-Q on SEC.govAnalysis
Q3 FY2024 10-Q (ended Apr 27, 2024). Total revenue $12.702B. Networking $6.522B (9-month: $22.425B implies Q3 = $6.521B). Security $1.304B (Splunk now included, acquired March 2024 -- adds ~$300M+/quarter). Collaboration $0.987B, Observability $0.211B. Services $3.678B. The Splunk acquisition closed in Q3 FY2024, with goodwill jumping from $38.5B to $58.6B. Splunk's Security revenue includes AI-powered threat detection (not pure AI revenue). MATH: Networking $6.522B. Cisco stated AI infrastructure drives higher network connectivity requirements. AI fabric portion of DC networking growing to ~20% = ~$250M. Splunk AI-powered analytics ~$50M (conservative portion of Splunk's contribution). Observability AI ~$20M. Total ~$320M / $12.702B = ~2.5%. Rounding to 3.0% given Splunk's AI capabilities and growing AI infrastructure momentum.
Analyzed by claude-opus-4-6
Quoted Figures
Networking $6,522M; Security $1,304M (includes Splunk)
10-Q Q3 FY2024, Revenue Disaggregation
Total revenue $12,702M
10-Q Q3 FY2024, Consolidated Statements of Operations
Goodwill increased to $58,633M from $38,535M (Splunk acquisition)
10-Q Q3 FY2024, Consolidated Balance Sheet
Security consists of our Cloud and Application Security, Industrial Security, Network Security, and User and Device Security offerings. This product category includes the Splunk Platform and Splunk Security offerings
10-Q Q3 FY2024, Revenue Disaggregation notes
AI Products Identified (Ring 1)
Nexus 9000 AI fabric switchesSilicon One ASICs400G/800G opticsSplunk AI-powered securityThousandEyes AI analytics
AI-Enabled Items (Ring 2 — Not Counted)
These items use AI but are not counted in the AI revenue estimate because they primarily serve non-AI functions.
Campus switchingEnterprise routingWirelessCollaborationTraditional Splunk SIEM
Confidence Tier
EstimatedNo direct AI revenue disclosure — estimated from product mix