Cisco Systems is scheduled to announce its third-quarter fiscal 2023 results after the close
- The company projects a year-over-year revenue increase of 11-13% for the quarter.
- Analysts estimate revenues of $14.39 billion, a 12.1% increase from the prior year.
- The consensus estimate for earnings is 97 cents per share, representing an 11.49% increase from the previous year.
Cisco’s results are expected to benefit from easing supply chain constraints and strong demand for various solutions, including Catalyst 9000, Wireless, and Meraki.
The availability of Microsoft Teams on Cisco meeting room devices is likely to drive demand.
Cisco shares are trading at $47.55 up $0.66 or 1.41% (closed at $47.61). The price closed the year at $47.64, little changed from the current levels. The price moved back above its 200-day on Monday at $46.81. The 100-day moving average is at $48.56.