Company news: Cisco (CSCO) quarterly results beat analysts’ expectations

Cisco (CSCO) reported Q2 FY2024 earnings of $0.87 per share (versus $0.88 per share in Q2 FY2023), beating analysts’ consensus estimate of $0.84 per share.

The company’s quarterly revenues amounted to $12.791 bln (-5.9% y/y), beating analysts’ consensus estimate of $12.706 bln.

The company also issued downside guidance for Q3 FY2024, seeing EPS of $0.84-0.86 versus analysts’ consensus estimate of $0.92 and revenues of $12.10-12.30 bln versus analysts’ consensus estimate of $13.09 bln.

For the full FY2024, Cisco guided to EPS of $3.68-3.74 versus analysts’ consensus estimate of $3.86 and revenues of $51.50-52.50 bln versus analysts’ consensus estimate of $54.41 bln.

In addition, the company raised its quarterly dividend by 2.6% to $0.40/share from $0.39/share.

CSCO fell to $47.87 (-4.79%) in pre-market trading.