With Product Sales Sluggish, What To Expect From Cisco's Q3 Earnings? [Forbes]
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Source: Forbes
is poised to report its Q3 FY'24 results on May 14, reporting on a quarter that is likely to see the company's sales contract, as customers focus on deploying hardware inventory purchased in the recent quarters. We expect revenue for the quarter to come in at about $12.8 billion, coming in slightly ahead of estimates although this would mark a 14% decline compared to last year. We project that earnings will stand at about $0.84 per share, coming in marginally ahead of consensus estimates. So what are some of the trends that are likely to drive the company's results for the quarter? See our analysis of for more details. Cisco's product sales have seen a slowdown as the company's customers have been focused on installing and implementing the products purchased over the last few quarters. This is likely to impact revenue for Q3 as well, as excess inventory is absorbed by customers. Moreover, large companies, including cloud service providers and telecommunication players, have been ho
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