Cisco's Fourth Quarter Expected to Be Pretty, Oh So Pretty!
Cisco Systems is expected to report strong fourth-quarter earnings later today after the markets close, which should be another boost to the tech market.
The Internet computer-networking equipment maker is being buoyed by a return to spending by customers eager to upgrade after recession pullbacks.
Wall Street expects San Jose, Calif.-based Cisco (CSCO) to earn 42 cents per share with $10.9 billion in revenue. In the same quarter a year ago, its net income was 19 cents per share–adjusted earnings were 31 cents–on $8.5 billion in sales.
Either way, that’s a big improvement.
But analysts also expect Cisco to have an even better outlook for 2011, as spending on Internet infrastructure grows. That includes everything from data centers, to routers and switches, to all kinds of networking equipment.
In other words, CEO John Chambers gets to crow a little bit.
Cisco stock, which has been slightly down recently, closed at $24.31, down 1.9 percent, or 46 cents, yesterday.