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Is a Beat in the Cards for Cisco (CSCO) in Q3 Earnings?
Cisco Systems, Inc. CSCO is set to report third-quarter fiscal 2020 results on May 13.For third-quarter fiscal 2020, Cisco anticipates revenues to decrease 1.5-3.5% on a year-over-year basis. The Zacks Consensus Estimate for revenues is pegged at $11.88 billion, indicating a decline of 8.4% over the year-ago reported figure.Non-GAAP earnings are anticipated between 79 cents and 81 cents per share. The Zacks Consensus Estimate for earnings is pegged at 72 cents per share, stable in the past seven days, suggesting a decline of 7.7% from the prior-year quarter.Notably, the company has a trailing four-quarter positive earnings surprise of by 1.89%, on average.What the Zacks Model UnveilsOur proven model predicts an earnings beat for Cisco this time around. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.
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