XPEV - Cisco Cuts Annual Guidance Joins NetEase And Other Big Stocks Moving Lower In Thursday's Pre-Market Session | Benzinga
U.S. stock futures traded slightly lower this morning on Thursday, with the Nasdaq futures falling around 30 points this morning.
Shares of Cisco Systems, Inc. (NASDAQ: CSCO) shares fell in pre-market trading following quarterly results.
Cisco reported upbeat earnings for its first quarter but lowered its earnings and sales projections for FY24.
Cisco said first-quarter revenue increased 8% year-over-year to $14.67 billion, which beat the consensus estimate of $14.62 billion. The company reported quarterly earnings of $1.11 per share, ahead of analyst estimates of $1.03 per share, according to Benzinga Pro.
Cisco cut full-year 2024 revenue expectations from $57 billion to $58.2 billion to a new range of $53.8 billion ...