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Cisco Shares Fall On Lower Q1 Guidance

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Cisco Shares Fall On Lower Q1 Guidance

Cisco Systems, Inc. (NASDAQ: 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."

See Also: Trading Bandwidth For Crypto: NOIA Brings New Tech, Cisco Partnership To Programmable Internet Space

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.

Photo credit: Prayitno

Posted-In: Chuck RobbinsEarnings News Guidance Top Stories After-Hours Center Movers Trading Ideas Best of Benzinga

 

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