Earnings Preview | Cisco Q3 Revenue, EPS Expected to Decline YoY, Performance Can Exceed Expectations to Become an Important Catalyst for Stock Price

Computer networking equipment manufacturer Cisco will announce its financial results for the third quarter of fiscal year 2024 after the US stock market closes on May 15th (Wednesday). Wall Street analysts currently expect Cisco's Q3 revenue to be $12.47 billion, a year-on-year decrease of 14.4%; and expected earnings per share to be $0.83, a year-on-year decrease of 17%. By business segment, analysts expect Cisco's Q3 product revenue to be $8.86 billion, a year-on-year decrease of 20.1%. Among them, collaboration business revenue is expected to be $0.983 billion, a year-on-year decrease of 0.2%; networking business revenue is expected to be $6.57 billion, a year-on-year decrease of 13%; security business revenue is expected to be $1.03 billion, a year-on-year increase of 7.8%. Q3 service revenue is expected to be $3.52 billion, a year-on-year increase of 1.3%. Although analysts expect Cisco's Q3 revenue and EPS to decline year-on-year, the actual performance compared to these expectations will be a significant factor that may affect the stock's recent price performance