Company News: Cisco (CSCO) quarterly earnings beat analysts’ forecast

Market news

13 November 2020

Company News: Cisco (CSCO) quarterly earnings beat analysts’ forecast

Cisco (CSCO) reported Q1 FY 2021 earnings of $0.76 per share (versus $0.84 per share in Q1 FY 2020), beating analysts’ consensus estimate of $0.70 per share.

The company’s quarterly revenues amounted to $11.929 bln (-9.3% y/y), roughly in line with analysts’ consensus estimate of $11.855 bln.

The company also issued upside guidance for Q2 FY 2021, projecting EPS of $0.74-0.76 versus analysts’ consensus estimate of $0.73 and revenues of $11.77-12.01 bln versus analysts’ consensus estimate of $11.67 bln.

CSCO rose to $41.50 (+7.32%) in pre-market trading.

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