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Cisco Earnings Soar: Analysts Project Double-Digit Growth
8 Aug
Summary
- Analysts forecast Cisco's Q3 earnings to rise 11.5% year-over-year
- Revenues expected to increase 7.1% to $14.6 billion
- Analysts revise earnings estimates higher in the last 30 days
According to the latest projections, technology giant Cisco Systems is poised to deliver robust financial results in its upcoming Q3 earnings report. Analysts on Wall Street forecast that Cisco will announce earnings of $0.97 per share, representing an impressive 11.5% increase compared to the same period last year.
Furthermore, Cisco's revenues are expected to reach $14.6 billion, reflecting a 7.1% year-over-year growth. This positive outlook is further reinforced by the fact that the consensus EPS estimate has been revised 0.2% higher over the last 30 days, indicating that analysts covering the stock have collectively reevaluated their initial estimates and become more optimistic about the company's performance.
Delving deeper into the specific business segments, analysts anticipate strong growth across Cisco's key product lines. The 'Revenue-Product-Networking' segment is projected to reach $7.19 billion, up 5.6% year-over-year, while the 'Revenue-Product-Security' segment is expected to surge 23.2% to $2.20 billion. Additionally, the 'Revenue-Product' category as a whole is forecasted to grow 8.8% to $10.72 billion.
