Key Takeaways CSCO's Security revenues fell 2% to $1.98B in Q1 FY26 due to cloud shifts and older product weakness. New solutions like Hypershield, XDR, and AI Defense drove order growth and firewall demand. Splunk's ARR and obligations rose double digits, boosting CSCO's threat detection capabilities. Cisco Systems’ (CSCO) Security revenues fell 2$1.98 billion in the first quarter of fiscal 2026. Customers shift to cloud subscriptions compared with on-premise deals for Splunk, and lower ...