Cisco Systems (NASDAQ: CSCO) — Earnings Live: What To Watch Today

Cisco (Nasdaq: CSCO) reports Q3 FY2025 results this evening, with Wall Street expecting EPS of $0.92 on revenue of $14.05 billion, near the top end of company guidance. The stock has traded flat year to date and is looking for a catalyst as enterprise and government networking spend remains uneven.

Key themes to watch tonight include how much traction Cisco is seeing in AI-related infrastructure demand, as it competes with hyperscalers and vertical integrators. Orders for AI networking surpassed $350 million last quarter, and commentary around growth in that line will be critical. Also in focus is the early performance of Splunk, the $28 billion acquisition aimed at boosting Cisco’s cloud-native and security footprint.

Investors will also want clarity on macro demand signals across enterprise, cloud, and service provider segments. Gross margins held firm last quarter, but hardware mix and FX remain swing factors.

Cisco has beaten EPS estimates in four straight quarters, including a 14% beat a year ago. With the bar set around top-line stabilization and forward guidance, anything short of a modest raise could weigh on sentiment.

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