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Cisco Systems, Inc. (NASDAQ: CSCO) will announce third quarter financial results Wednesday after the market close.
According to Estimize, the company guided pretty much flat year-over-year and quarter-over-quarter earnings of $0.52 per share on revenue of $12.007 billion.
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The Street is marginally more bullish, and expects earnings of $0.53 per share on revenue of $12.047 billion. The most optimistic, however, is the crowd, which projects consensus earnings of $0.54 on per share on revenue of $12.119 billion.
The company has managed to consistently meet or beat both estimates and guidance over the past couple of years.
Bulls Say...
Cantor Fitzgerald is among the research firms that weighed in on Cisco’s earnings. The analysts expect the company to report strong results this quarter, “driven by strong execution, despite the weakening in carrier spending in the U.S. and the softening emerging markets,” a recent article said. The firm believes that “strength in the data center, healthy trends in the enterprise/commercial market and strong execution should be able to offset these soft spots.”
For its part, TipRanks anticipates earnings of $0.53 per share and $11.54 billion in revenue: “In the third quarter Cisco faced a few hurdles including troubles in its typically well-performing switching business, inconsistent demand from telecom carriers, and its instability in emerging markets. Despite this, analysts are generally confident on Cisco Systems ability to overcome these headwinds.”
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.