Cisco Systems is expected to report a decline in earnings and revenues for Q3.

From Nasdaq: 2024-05-08 10:00:10

Cisco Systems (CSCO) is expected to report a decline in earnings and revenues for the quarter ended April 2024. The stock’s performance after the earnings report, set to be released on May 15, will be influenced by whether the key numbers exceed or fall short of expectations.

Analysts expect Cisco to post quarterly earnings of $0.83 per share, down 17% year-over-year, with revenues of $12.47 billion, a 14.4% decrease. Estimate revisions show a 1.96% lower consensus EPS estimate, indicating analysts’ reassessment of their initial estimates over the last 30 days.

The Zacks Earnings ESP model predicts potential earnings surprises based on the Most Accurate Estimate compared to the Zacks Consensus Estimate. While a positive ESP reading suggests an earnings beat likelihood, Cisco currently carries a Zacks Rank of #4, making it uncertain whether it will surpass consensus EPS expectations.

Cisco has beaten consensus EPS estimates in the last four quarters. However, an earnings beat does not always guarantee stock price increase, as other factors play a role. Investors are advised to consider Cisco’s Earnings ESP and Zacks Rank before its quarterly release for a more informed decision.

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Read more at Nasdaq: Earnings Preview: Cisco Systems (CSCO) Q3 Earnings Expected to Decline