CSCO stock dropped over 7% in Thursday’s trading after Cisco Systems Inc. (NASDAQ:CSCO) released its Q1 2020 results in which it gave a lackluster sales guidance for the second quarter. The sales estimates missed projections, which is an indication that the company is postponing purchases of hardware. This is because of growing economic and political uncertainty and the US-China trade dispute.
Lowers Sales Guidance for Q2In a statement on Wednesday, the company indicated that it now expects its second-quarter revenue to drop by 3% to 5% from last year. Cisco stated that sales in the ...
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