Technical Analysis – 15 August 2024

Shares closed at a one-month high above the 50dEMA with an increase in volume. The 5dEMA crossed the 50dEMA.
RSI is constructive while MACD is positive.
Long – Entry 5.80, Target 6.18, Stop 5.61

Shares closed above the 50dEMA with rising volume. The 5dEMA is about to cross the 20dEMA.
RSI is constructive, while MACD is about to turn positive.
Long – Entry 72.4, Target 77.4, Stop 69.9

Cisco Systems Inc (CSCO)

4Q24 Revenue: $13.64B, -10.3% YoY, beat estimates by $100M
4Q24 Non-GAAP EPS: $0.87, beat estimates by $0.02
1Q25 Guidance: Expect revenue of $13.65B to $13.85B vs consensus of $13.76B, GAAP EPS of $0.35 to $0.42 and Non-GAAP EPS of $0.86 to $0.88 vs consensus of $0.85.
FY25 Guidance: Expect revenue of $55.0B to $56.2B vs consensus of $55.68B, GAAP EPS of $1.93 to $2.05 and non-GAAP EPS of $3.52 to $3.58 vs consensus of $3.55.
Comment: Cisco reported better-than-expected results despite a third consecutive quarter of declining revenue. The company’s core networking business, which includes switches and routers, has been in decline as large enterprises have shifted to cloud solutions. To counter this trend, Cisco has expanded its software and security segments to generate more recurring subscription revenue. The recent $28 billion acquisition of Splunk significantly boosted subscription revenue, helping the company exceed expectations. Cisco is also undertaking a restructuring plan that includes $1 billion in pretax charges to its financial results, aimed at investing in key growth areas and improving efficiency. As part of this restructuring, the company announced it will cut 7% of its global workforce, following a 5% reduction in February. These cost-cutting measures are expected to enhance Cisco’s profitability in the future. 1Q25 recommended trading range: $46 to $52. Positive Outlook.

思科系统 (CSCO)

24财年第四季营收：136.4亿美元，同比跌幅10.3%，超预期1亿美元
24财年第四季Non-GAAP每股盈利：0.87美元，超预期0.02美元
25财年第一季指引：预计营收为136.5亿至138.5亿美元，市场预期为137.6亿美元，GAAP每股收益为0.35至0.42美元，Non-GAAP每股收益为0.86至0.88美元，市场预期为0.85美元。
25财年指引：预计营收为550亿至562亿美元，市场预期为556.8亿美元，GAAP每股收益为1.93至2.05美元，Non-GAAP每股收益为3.52至3.58美元，市场预期为3.55美元。
短评：尽管连续第三个季度营收下滑，但思科公布的业绩好于预期。随着大型企业转向云解决方案，该公司的核心网络业务(包括交换机和路由器)一直在下滑。为了扭转这种趋势，思科扩大了其软件和安全业务，以获得更多的经常性订阅收入。最近以280亿美元收购Splunk大大提高了订阅收入，帮助该公司超出了预期。思科还在实施一项重组计划，其中包括将10亿美元的税前费用计入其财务业绩，旨在投资于关键增长领域并提高效率。作为重组的一部分，该公司宣布将在2月份裁员5%之后，削减7%的全球员工。这些削减成本的措施有望提高思科未来的盈利能力。25年第一季度建议交易区间：46至52美元。积极前景。