Cisco: a flying start after solid results

(CercleFinance.com) - Cisco is jumping 9% in early trading today following the publication of its Q4 2023-24 results, deemed 'solid, supported by the depletion of customer inventories and positive feedback on AI, Jefferies says, which is still a buyer.


The networking technology provider reported non-GAAP EPS down 24% to $0.87 and revenues down 10% to $13.6bn, slightly ahead of market expectations according, the broker notes.

We've seen firm demand with order growth, as customers rely on Cisco to connect and protect all aspects of their organizations in the AI era, CEO Chuck Robbins commented on Wednesday evening.

Splunk did a little worse than we expected, and we have lingering concerns about market share, but cost cuts and improving demand are setting a floor for the stock, Jefferies adds.


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