CSCO - What's Going On With Cisco Systems Stock? | Benzinga
Cisco Systems, Inc. (NASDAQ:CSCO) initially traded higher before turning negative Thursday on the heels of the company’s fiscal third-quarter earnings.
What Happened: Cisco reported financial results for the third quarter after the market close on Wednesday, including $12.7 billion in revenue, down 13% year-over-year. The number beat analyst estimates of $12.531 billion, according to Benzinga Pro.
The company reported adjusted EPS of 88 cents, down 12% year-over-year. The number beat analyst estimates of 82 cents.
The company also provided guidance for the fourth quarter. Cisco expects revenue to be between $13.4 billion and $13.6 billion versus estimates of $13.23 billion. In addition, ...