How Cisco Systems Performed Ex-Splunk, 8 Analysts Weigh In On Q3 Earnings: Here's Where 'Upside Primarily Came From'
Portfolio Pulse from Priya Nigam
Cisco Systems Inc (NASDAQ:CSCO) reported stronger-than-expected Q3 earnings, but shares declined by 1.47% to $48.94. Analysts provided mixed ratings and price targets, highlighting both positive aspects like better-than-expected gross margins and challenges such as weakness in core businesses and higher opex.
May 16, 2024 | 3:11 pm
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Cisco Systems reported stronger-than-expected Q3 earnings, but shares declined by 1.47%. Analysts provided mixed ratings and price targets, highlighting both positive aspects like better-than-expected gross margins and challenges such as weakness in core businesses and higher opex.
Despite beating earnings expectations, Cisco's stock declined due to mixed analyst ratings and concerns over core business weaknesses and higher operating expenses. The positive aspects like better gross margins and potential future growth from AI and security were not enough to offset these concerns in the short term.
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