Cisco Beats Q3 Adjusted EPS and Revenue Estimates, Provides Strong FY Outlook
CSCO sits 84% above its 52-week low of $60.845.
Summary
Cisco reported strong third-quarter results, with adjusted EPS of $1.06, surpassing the IBES estimate of $1.04. The company also exceeded revenue expectations, posting $15.8 billion against an estimate of $15.558 billion. Additionally, Cisco provided a full-year revenue outlook of $62.8 billion to $63.0 billion. This official earnings release from Reuters is concurrent with an 8-K filing detailing strong third-quarter results, exceeding revenue and earnings guidance. While a prior news report from May 12 mentioned strong Q3 revenue, this report provides more precise figures and the crucial EPS beat. The beat on both adjusted EPS and revenue, coupled with a positive full-year outlook, indicates robust operational performance and demand for Cisco's offerings, making this highly material for investors. Traders will closely monitor analyst reactions and any further details from the earnings call for potential stock price catalysts.
At the time of this announcement, CSCO was trading at $111.66 on NASDAQ in the Technology sector, with a market capitalization of approximately $402.4B. The 52-week trading range was $60.85 to $102.01. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Reuters.