Cisco Systems (CSCO) saw a boost in its shares in pre-market trading as investors looked forward to the network equipment chipmaker’s fourth quarter earnings. The company’s focus on overcoming supply chain bottlenecks and leveraging AI technology has garnered attention. Analysts anticipate earnings of $1.06 per share for the fiscal fourth quarter, with revenues expected to rise around 14.9% to $15.05 billion.
Despite challenges from ongoing supply chain issues and an uncertain macro environment, Cisco has expressed confidence in finishing the fiscal year with double its normal product backlog. Furthermore, the company is prepared to capitalize on the AI investment surge. CEO Chuck Robbins has highlighted how Cisco’s core networking technology is already powering leading AI models used by hyperscalers around the world. Robbins believes there is still immense growth potential across all customers, as Cisco’s portfolio includes hardware, software, silicon, and systems. The company has already secured early design wins in AI infrastructure and continues to gain market share in this space.
In pre-market trading, Cisco Systems shares rose by 0.32% to an expected opening bell price of $53.52, bringing its year-to-date gain to approximately 12.3%.
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