Cisco Shares Are Diving On Mediocre Earnings Report

John Chambers

Photo: Associated Press

The numbers:Revenue of $10.75 billion is just ahead of estimates of $10.74 billion, and up 19% from last year.

EPS of $0.42 is slightly ahead of estimates of $.40.

The stock is off about 3.5% 10% after hours, and the language is definitely subdued.

Here’s the key quote on the economy from CEO John Chambers: “Cisco delivered solid financial results, during a challenging economic environment. While we have seen capital spending moderate in some areas of our business, our execution in the areas we can control and influence speak to the success and relevance of the company’s strategy.”

As always with Cisco, the all-important outlook will be discussed on the conference call.

Update: Shares are gettting crushed even harder after hours after a very ugly conference call.

Click here for updates.

Background: Analysts are looking for EPS of $0.40 on revenue of $10.74 billion.

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