Tuesday, August 8, 2006
Cisco Systems Inc. is expected to post higher quarterly sales when it reports on August 8, as companies upgraded their communications networks. But analysts say that outlook is clouded by an economic slowdown and mergers among rivals.
Analysts also said that Cisco sales were likely boosted as companies upgraded their networks to new Internet protocol (IP), or Web-based, telephone systems, and adopted wireless connections to link computers, servers and printers within offices.
Wall Street, on average, expects fiscal fourth-quarter revenue to rise 20 percent to $7.92 billion from $6.58 billion a year ago, according to Reuters Estimates. The quarter ended July 29.
The average estimate for profits before special items was $1.8 billion, or 28 cents per share, compared with $1.6 billion, or 25 cents per share, in the year-ago quarter.
But analysts recently cut the rating on Cisco stock to neutral from outperform, and lowered his price target to $19 from $25, saying Cisco CEO John Chambers could give a conservative outlook for the next fiscal year.
By: DocMemory
Copyright © 2023 CST, Inc. All Rights Reserved
|
