Cisco Earnings Come In Right On Target, But Weak Guidance Sends Stock Plunging

Cisco John Chambers

Photo: AP

Cisco just posted earnings for the quarter, and it’s a solid if unspectacular beat. (PDF here.)Non-GAAP EPS came in at $0.48, one cent ahead of expectations.

Sales were $11.59 billion, right on target with analyst expectations of $11.57 billion.

Cisco seems to be back on track again after a couple disastrous quarters last year — net sales were up 7%, and earnings up 14% from last year’s quarter.

UPDATE: On its earnings call, Cisco said it expected Q4 revenue to be up 2% to 5%. Analysts were expecting a 7% increase. The stock is getting killed after hours, down more than 9%.

 

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