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Traders are eagerly awaiting the newest outcomes from know-how bellwether
to get an replace on the state of enterprise spending.
The maker of networking and safety merchandise is slated to report its fiscal fourth-quarter numbers after Wednesday’s shut.
The Wall Avenue consensus estimates for
(ticker: CSCO) name for the firm to report July-quarter income of $12.73 billion, with adjusted earnings per share of 82 cents. Analysts’ estimates for the present quarter’s income are $12.82 billion.
Earlier this week, J.P. Morgan analyst Samik Chatterjee warned his shoppers that Cisco might face a tougher spending atmosphere in the coming quarters. The analyst reiterated his Impartial ranking for the inventory.
Now we have “mounting concerns on enterprise IT spend outlook heading into 2H22 and 2023, as well as company-specific concerns related to supply chain execution,” he wrote.
Expectations have already come down. In Could, Cisco gave a forecast for the July quarter that was decrease than analyst estimates at the time, citing supply-chain points from the Covid-19 lockdowns in China.
Cisco shares closed up 0.4% on Tuesday, at $46.77, off 26% for 2022. Up to now this 12 months, the tech-laden
index has declined 16%.
Write to Tae Kim at [email protected]