Cisco's (NASDAQ: CSCO) earnings announcement shows a company that is slowing reinventing itself. In Cisco's recently reported first fiscal quarter, the company modestly beat analyst expectations on the top and bottom lines with revenue at $12.14 billion versus $12.11 billion expected and adjusted EPS at $0.61 versus $0.60 expected, according to Thomson Reuters.
Although the stock rallied on the announcement, critics counter by noting the company reported a 2% year-over-year revenue decline and gross margin compression of 2.6 percentage points as the core network hardware market continues to experience commoditization. Should buy shares of this cheap company or wait for more progress?
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Source: Fool.com