Cisco (CSCO) PT Raised to $58 at Evercore ISI

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Go back to Cisco (CSCO) PT Raised to $58 at Evercore ISI

Cisco (CSCO) stock gains on 'solid' results, analysts note improving supply

November 17, 2022 5:24 AM EST

Cisco Systems (NASDAQ: CSCO) shares are up 4% pre-market Thursday after the company reported better-than-expected results for its first fiscal quarter.

The digital communications firm posted earnings per share of $0.86, $0.02 better than the analyst estimate of $0.84. Revenue increased by 5.7% year-over-year (YoY) to $13.6 billion, above expectations of $13.29B.

The total annualized recurring revenue (ARR) rose by 7% to $23.2B YoY, while software revenue increased by 5%.

"Our fiscal 2023 is off to a good start as we delivered the largest quarterly revenue... More