Cisco Sees Q3 Adj. EPS $0.84-$0.86 vs $0.92 Est., Revenue $12.1B-$12.3B vs $13.09B Est.; Sees FY24 Adj. EPS $3.68-$3.74 vs $3.86 Est., Revenue $51.5B-$52.5B vs $54.26B Est.
Portfolio Pulse from Benzinga Newsdesk
Cisco has provided its Q3 and FY24 earnings guidance, projecting lower than expected adjusted EPS and revenue. For Q3, the adjusted EPS is forecasted to be $0.84-$0.86, compared to the estimated $0.92, and revenue is expected to be between $12.1B-$12.3B, against the estimated $13.09B. For FY24, the adjusted EPS is anticipated to be $3.68-$3.74, versus the estimated $3.86, with revenue projections of $51.5B-$52.5B, compared to the estimated $54.26B.
February 14, 2024 | 9:11 pm
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NEGATIVE IMPACT
Cisco's Q3 and FY24 earnings guidance is lower than analyst expectations, with both adjusted EPS and revenue forecasts falling short.
Cisco's announcement of lower than expected earnings guidance for both Q3 and FY24 is likely to negatively impact investor sentiment and could lead to a short-term decrease in stock price. The significant shortfall in both EPS and revenue forecasts compared to analyst estimates suggests potential challenges ahead for the company, influencing investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100