By Maria Armental 
 

Cisco Systems Inc. expects revenue this quarter to increase 7.5% to 9.5%, ahead of Wall Street projections.

The company, considered a proxy for corporate high-tech hardware demand, expects 61 cents to 66 cents a share in first-quarter profit, or 79 cents to 81 cents on an adjusted basis.

Analysts surveyed by FactSet expect 67 cents a share, or 81 cents on an adjusted basis, with revenue increasing about 7.5% to $12.83 billion.

For the year, Cisco expects a profit of $2.72 to $2.84 a share, or $3.38 to $3.45 a share as adjusted with revenue increasing about 5% to 7%. Analysts had projected an adjusted profit of $3.40 a share and revenue increasing about 4.5% to $51.96 billion.

 

Write to Maria Armental at maria.armental@wsj.com

 

(END) Dow Jones Newswires

August 18, 2021 16:38 ET (20:38 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.
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