Cisco Systems, Inc. (CSCO) is a global technology leader that designs, manufactures, and sells Internet Protocol-based networking and other communications technology.
This week, Cisco reported Q2 results, ahead of analysts’ expectations. The company reported earnings of 77 cents per share vs. the expectation of 76 cents per share. Revenue of $12.01 billion, versus expected revenue of $11.98 billion was reported. The declining revenue disappointed investors bringing its stock down by 4%.
Cisco expects 79 cents to 81 cents in earnings per share and an annualized revenue decline of 1.5% to 3.5% in the fiscal third quarter, the forecast does not include disruptions in the supply chain due to the coronavirus crisis in China, as informed in the company’s earnings call.
Revenue from Infrastructure Platforms and Applications, were both down 8% year over year, at $6.5 billion and $1.3 billion, respectively.
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