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Cisco shares near record as AI networking focus turns to Q4 results
Investors are looking for Cisco to post adjusted EPS of $1.17 on revenue of about $16.82 billion after the stock climbed nearly 60% year to date.
Cisco shares rose and traded near their record high of $130.37 as investors turned to the networking equipment maker’s fourth-quarter earnings, due after the market close, according to LiveMint Markets.
Wall Street expects Cisco to report adjusted earnings of $1.17 per share on revenue of approximately $16.82 billion. That would mark a new quarterly revenue record, topping the $15.84 billion Cisco reported in fiscal third quarter results.
Cisco’s management previously forecast fourth-quarter revenue between $16.7 billion and $16.9 billion, another quarterly high, alongside non-GAAP earnings of $1.16 to $1.18 per share. It also projected a non-GAAP gross margin of 65.5% to 66.5% and an operating margin of 34% to 35%.
The company also raised its full-year guidance after its third-quarter results, now expecting fiscal-year revenue of $62.8 billion to $63.0 billion and adjusted earnings of $4.27 to $4.29 per share. LiveMint Markets noted that Cisco’s fiscal third quarter delivered record revenue of $15.8 billion, up 12% year over year, and non-GAAP earnings of $1.06 per share, also above its own guidance and Wall Street expectations.