Cisco Systems Stock Jumps Before Q3 Earnings as AI Orders Face a Big Test
Cisco shares jumped 4.7% to $96.52 Friday, nearing a record ahead of its fiscal third-quarter earnings report due May 13. Analysts expect adjusted earnings of $1.04 per share on $15.56 billion in revenue. The company last posted $15.3 billion in revenue, citing $2.1 billion in AI infrastructure orders. CEO Chuck Robbins and CFO Mark Patterson will attend investor events through June.