Cisco Systems earnings expected to hold steady
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When Cisco Systems (NASDAQ:CSCO) reports its fiscal second-quarter results after the close of trading on Wednesday, the operative sentiment likely to come from the networking-equipment giant will be one of steadiness.
A mix of easing of supply chain constraints, along with a relaxation of COVID-19 restrictions in China and the company's own wide base of products and customers are set to get attention from investors when the company discusses how business went at the end of 2022, and what it expects to see in the rest of 2023.
Wall Street analysts estimate Cisco (CSCO) will report a profit of 86 cents a share, excluding one-time items, on revenue of $13.41B. During the same period a year ago, Cisco (CSCO) earned 84 cents a share, excluding one-time items, on sales of $12.7B. Cisco (CSCO) itself has said it expects to earn 84 cents to 86 cents a share, excluding one-time items, with revenue rising between 4.5% and 6.5% from last year's fiscal second quarter.
Whatever Cisco (CSCO) says, it could have an impact on investor sentiment about the market for growth in such high-end business technology products and services such as networking, storage and security.
So far this year, Cisco (CSCO) shares have basically remained in a holding pattern, and closed Tuesday at $47.70.
Wall Street analysts and Seeking Alpha authors both have consensus buy ratings on Cisco's (CSCO) stock, while Seeking Alpha's Quant System, which historically outperforms the stock market, gives Cisco (CSCO) a rating of hold.