Image Source: Unsplash

Cisco Systems (CSCO - Free Report) is set to release its third-quarter fiscal 2023 results on May 17.

The company anticipates third-quarter fiscal 2023 revenues to increase in the range of 11-13% on a year-over-year basis. Non-GAAP earnings are anticipated to be between 96 and 98 cents per share.

The Zacks Consensus Estimate for revenues is pegged at $14.39 billion, indicating an increase of 12.1% from the year-ago quarter’s reported figure.

The consensus mark for earnings has been stable in the past 30 days at 97 cents per share. The figure suggests an increase of 11.49% from the prior-year quarter’s levels.

Cisco Systems, Inc. Price and EPS Surprise

Cisco Systems, Inc. price-eps-surprise | Cisco Systems, Inc. Quote

Let’s see how things have shaped up for Cisco prior to this announcement.

Factors Likely to Influence Q3 Results

Cisco’s third-quarter fiscal 2023 results are expected to benefit from easing supply chain constraints. Its extensive product portfolio and varied end-user base are also expected to have positively contributed to its top-line growth.

The company’s results in the to-be-reported quarter are expected to benefit from strong demand for the Catalyst 9000 family, Cisco 8000, Wireless, Meraki, ThousandEyes and Duo solutions.

Cisco has been witnessing robust demand for its 400-gig products and the trend is expected to have continued in the fiscal second quarter.

Moreover, the availability of Microsoft Teams on Cisco meeting room devices is expected to have driven demand for these devices.

More By This Author:

Bull Of The Day: Celsius Holdings
Walmart Expected To Beat Earnings Estimates: What To Know Ahead Of Q1 Release
3 Equity REIT Stocks To Bet On Despite Industry Weakness