Cisco Systems (CSCO) has once again outperformed estimates in its fiscal Q1 2020 earnings report, which was released after the closing bell Wednesday. Earnings of 84 cents per share was up 12% year over year and 3 cents higher than the Zacks consensus. Revenues of $13.2 billion in the quarter surpassed the $13.02 billion expected, partially on stronger software subscriptions.
Cisco Systems, Inc. (CSCO): Free Stock Analysis Report
NetApp, Inc. (NTAP): Free Stock Analysis Report
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Zacks Investment Research
However, lower-than-expected earnings for its fiscal Q2 are sending shares down 4.5% in late trading. While we had expected earnings on 80 cents to be reported in the ongoing quarter, the company now expects 75-77 cents per share, down 3-5% year over year. Concerns over its Enterprise business seems to play a role here. Cisco has outperformed estimates in each quarter going back to the Zacks reconfiguration of stock-based compensation, in fiscal Q2 2017. For more on CSCO's earnings, click here.
Silicon Valley-based NetApp (NTAP), a cloud data services provider, posted mixed results in its fiscal Q2 2020 quarter after Wednesday's close. $1.09 per share easily outpaced the 94 cents expected. and even topped the year-ago quarter by 3 cents per share, though revenues of $1.37 billion missed the $1.39 billion Zacks consensus estimate, which itself was a drop of 8.6% year over year. Cloud Data Services rose 167% year over year to $72 million in the quarter. The company is also introducing a new Senior VP and Chief Marketing Officer, James Whitemore. George Kurian remains company CEO. For more on NTAP's earnings, click here.
Cisco Systems (NASDAQ:CSCO) has once again outperformed estimates in its fiscal Q1 2020 earnings report, which was released after the closing bell Wednesday. Earnings of 84 cents per share was up 12% year over year and 3 cents higher than the Zacks consensus. Revenues of $13.2 billion in the quarter surpassed the $13.02 billion expected, partially on stronger software subscriptions.
However, lower-than-expected earnings for its fiscal Q2 are sending shares down 4.5% in late trading. While we had expected earnings on 80 cents to be reported in the ongoing quarter, the company now expects 75-77 cents per share, down 3-5% year over year. Concerns over its Enterprise business seems to play a role here. Cisco has outperformed estimates in each quarter going back to the Zacks reconfiguration of stock-based compensation, in fiscal Q2 2017. For more on CSCO's earnings, click here.
Silicon Valley-based NetApp ( (NASDAQ:NTAP) ), a cloud data services provider, posted mixed results in its fiscal Q2 2020 quarter after Wednesday's close. $1.09 per share easily outpaced the 94 cents expected. and even topped the year-ago quarter by 3 cents per share, though revenues of $1.37 billion missed the $1.39 billion Zacks consensus estimate, which itself was a drop of 8.6% year over year. Cloud Data Services rose 167% year over year to $72 million in the quarter. The company is also introducing a new Senior VP and Chief Marketing Officer, James Whitemore. George Kurian remains company CEO. For more on NTAP's earnings, click here.
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Cisco Systems, Inc. (CSCO): Free Stock Analysis Report
NetApp, Inc. (NTAP): Free Stock Analysis Report
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Zacks Investment Research
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