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Cisco (CSCO) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
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For the quarter ended October 2023, Cisco Systems (CSCO - Free Report) reported revenue of $14.67 billion, up 7.6% over the same period last year. EPS came in at $1.11, compared to $0.86 in the year-ago quarter.
The reported revenue represents a surprise of +0.40% over the Zacks Consensus Estimate of $14.61 billion. With the consensus EPS estimate being $1.03, the EPS surprise was +7.77%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Cisco performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Remaining Performance Obligations (RPO) - Total: $34.75 billion versus $33.83 billion estimated by two analysts on average.
Revenue- Services: $3.53 billion compared to the $3.48 billion average estimate based on nine analysts. The reported number represents a change of +4.2% year over year.
Revenue- Product: $11.14 billion versus $11.12 billion estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a +8.7% change.
Non-Gaap Gross Margin- Service: $2.44 billion versus $2.36 billion estimated by seven analysts on average.
Non-Gaap Gross Margin- Product: $7.41 billion versus $7.19 billion estimated by seven analysts on average.
Shares of Cisco have returned -1.4% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Cisco (CSCO) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates
For the quarter ended October 2023, Cisco Systems (CSCO - Free Report) reported revenue of $14.67 billion, up 7.6% over the same period last year. EPS came in at $1.11, compared to $0.86 in the year-ago quarter.
The reported revenue represents a surprise of +0.40% over the Zacks Consensus Estimate of $14.61 billion. With the consensus EPS estimate being $1.03, the EPS surprise was +7.77%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Cisco performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Remaining Performance Obligations (RPO) - Total: $34.75 billion versus $33.83 billion estimated by two analysts on average.
- Revenue- Services: $3.53 billion compared to the $3.48 billion average estimate based on nine analysts. The reported number represents a change of +4.2% year over year.
- Revenue- Product: $11.14 billion versus $11.12 billion estimated by nine analysts on average. Compared to the year-ago quarter, this number represents a +8.7% change.
- Non-Gaap Gross Margin- Service: $2.44 billion versus $2.36 billion estimated by seven analysts on average.
- Non-Gaap Gross Margin- Product: $7.41 billion versus $7.19 billion estimated by seven analysts on average.
View all Key Company Metrics for Cisco here>>>Shares of Cisco have returned -1.4% over the past month versus the Zacks S&P 500 composite's +4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.