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Cisco Should Post Strong Earnings. Wall Street Is Worried About Big-Picture Issues.

Wall Street is optimistic about Cisco Systems’ quarterly results, due after the close of trading Wednesday, but concerns remain about how the networking giant’s outlook might be affected by difficult macroeconomic conditions.

For the quarter ended in April, Cisco (ticker: CSCO) has projected revenue growth of 3% to 5%, with non-GAAP profits of 85 to 87 cents a share. The Street consensus is for revenue of $13.4 billion, up 4.4%, with profits of 86 cents, in the middle of the target range.

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