Cisco Systems Earnings: Here’s Why Shares are Down Now
Cisco Systems, Inc. (NASDAQ:CSCO) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 1%, however.
Cisco Systems, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 6.25% to $0.51 in the quarter versus EPS of $0.47 in the year-earlier quarter.
Revenue: Rose 4.95% to $12.1 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: Cisco Systems, Inc. reported adjusted EPS income of $0.51 per share. By that measure, the company beat the mean analyst estimate of $0.48. It beat the average revenue estimate of $12.06 billion.
Quoting Management: “Cisco delivered record earnings per share this quarter and record revenue for the 8th quarter in a row in a challenging economic environment. We continue to drive the innovation, quality and leadership our customers expect, and we remain focused on consistent returns to our shareholders,” said John Chambers, Cisco chairman and chief executive officer
Key Stats (on next page)…
Revenue increased 1.87% from $11.88 billion in the previous quarter. EPS increased 6.25% from $0.48 in the previous quarter.
Looking Forward: Analysts have a neutral outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings is a profit of $0.49 and has not changed. For the current year, the average estimate has moved up from a profit of $1.94 to a profit of $1.96 over the last ninety days.
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)