Is Cisco (CSCO) a 'Buy' Ahead of Its Upcoming Earnings Announcement?

Tech heavyweight Cisco CSCO is set to report fiscal third-quarter results on Wednesday after the bell. Cisco, a Zacks Rank #3 (Hold), boasts a stellar track record of exceeding earnings estimates. With CSCO stock climbing back into the green on the year, is the networking giant a buy heading into earnings?Find the latest EPS estimates and surprises on Zacks Earnings Calendar.Analysts are expecting CSCO to deliver quarterly earnings of $0.91 per share, which would reflect growth of 3.4% relative to the same quarter in the prior year. Projected revenues of $14.05 billion would mark a 10.6% improvement versus the year-ago period. Cisco has beaten earnings estimates in each of the past four quarters, sporting a 4.1% average earnings surprise over that timeframe.Cisco’s business has evolved with subscription revenues accounting for more than half of total revenues. The company remains the largest player in the networking space. Cisco has inked strategic alliances with most major technology companies globally.As always, investors should remain cautious ahead of earnings as stocks can be volatile. Our proprietary Earnings ESP indicator conclusively predicts another beat for Wednesday’s announcement.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cisco Systems, Inc. (CSCO): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks