- Company News: Cisco Systems (CSCO) quarterly earnings beat analysts’ expectations; current-quarter guidance disappoints
Market news
13 August 2020
Company News: Cisco Systems (CSCO) quarterly earnings beat analysts’ expectations; current-quarter guidance disappoints
Cisco Systems (CSCO) reported Q4 FY 2020 earnings of $0.80 per share (versus $0.83 per share in Q4 FY 2019), beating analysts’ consensus estimate of $0.74 per share.
The company’s quarterly revenues amounted to $12.154 bln (-9.5% y/y), roughly in line with analysts’ consensus estimate of $12.087 bln.
The company also issued downside guidance for Q1 FY 2021, projecting EPS of $0.69-0.71 versus analysts’ consensus estimate of $0.76 and revenues declining 9-11% y/y to ~$11.71-11.98 bln versus analysts’ consensus estimate of $12.29 bln.
CSCO fell to $45.09 (-6.26%) in pre-market trading.
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