Stock Region Earnings Calendar
Earnings Calendar: Wednesday August 14th, 2024
Stock Region Newsletter — Earnings Calendar: Wednesday August 14th, 2024
Welcome to this week's edition of the Stock Region Newsletter. As earnings season progresses, investors are keeping a close eye on the latest financial performances of key companies. This mid-week report highlights significant earnings announcements, both before and after the market opens, providing essential insights to help you navigate the investment landscape.
Earnings Spotlight: Cisco Systems
Cisco Systems (CSCO) has reported a notable decline in its earnings revenue for the fiscal third quarter, primarily due to delays in the installation of already purchased networking equipment. As we look ahead to the fiscal fourth quarter, analysts project a 21.3% drop in earnings to 85 cents per share, with revenue expected to reach $13.5 billion, a 6.3% year-over-year decrease. According to Needham analyst Alex Henderson, the networking market faces ongoing challenges, including the aftereffects of the supply chain boom and bust, a prolonged telecom downturn, and a slowing economic backdrop influenced by the Federal Reserve’s restrictive policies. Despite these hurdles, Cisco's conservative guidance suggests it may meet its targets.