Investing.com – Cisco (NASDAQ:) delivered weaker-than-expected guidance Wednesday offsetting fourth-quarter that beat analysts’ expectations on both the top and bottom lines.
Cisco said it expected first-quarter earnings in the range of $0.80 to 0.82 a share on revenue of $12.68 to $12.93 billion, short of expectations from Capital IQ of $0.83 a share on revenue of $13.41 billion.
~$12.68-12.93 bln vs
The firm reported earnings per share of $0.83 on revenue of $13.43B. Analysts polled by Investing.com anticipated EPS of $0.81 on revenue of $13.39B. That compared to EPS of $0.7 on revenue of $12.84B in the same period a year earlier. The company had reported EPS of $0.78 on revenue of $12.96B in the previous quarter.
Cisco shares lost 4.21% to trade at $48.48 in after-hours trade following the report.
Cisco follows other major Technology sector earnings this month
On July 18, Microsoft reported fourth quarter EPS of $1.37 on revenue of $33.72B, compared to forecasts of EPS of $1.21 on revenue of $32.77B.
Apple earnings beat analysts’ expectations on July 30, with third quarter EPS of $2.18 on revenue of $53.81B. Investing.com analysts expected EPS of $2.09 on revenue of $53.32B
Stay up-to-date on all of the upcoming earnings reports by visiting Investing.com’s earnings calendar
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