Cisco Shares Slide 8% Despite Earnings Beat and Stronger Than Expected Guidance The latest earnings report from networking equipment vendor Cisco Systems has left investors perplexed.
Despite reporting better than expected numbers and robust guidance, the company's shares plummeted 8% on Thursday, defying expectations that a solid quarter would propel them even higher.
Cisco's conservative guidance for the current quarter may be partly to blame. While revenue is expected to top $18 billion, exceeding analyst estimates of $16.