Cisco Shares Fall On Lower Q1 Guidance

Photo credit: Prayitno

Cisco Systems, Inc. CSCO shares are down after reporting a fourth-quarter earnings beat.

Earnings came in at 83 cents per share, beating estimates by a penny. Sales came in at $13.4 billion, beating estimates by $10 million.

The company issued weak first-quarter earnings guidance. Cisco now sees adjusted EPS between 80 cents to 82 cents versus an 83 cent estimate.

"Our Q4 results marked a strong end to a great year. We are executing well in a dynamic environment, delivering tremendous innovation across our portfolio and extending our market leadership," said Chuck Robbins, chairman, and CEO. "We are committed to providing our customers ongoing value through differentiated solutions, and we are well-positioned to take advantage of the long-term growth opportunities ahead."

Highlights:

  • Revenue up 6%
  • Product revenue up 7%
  • Service revenue up 4%

Cisco shares traded lower by 7.2% to $46.95 in the after-hours session. The stock closed the regular session down 4% at $50.61 per share.

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.