Where Will Cisco Stock Be in 1 Year?
's (NASDAQ: CSCO) stock plunged 11% during after-hours trading on Nov. 15 after the networking giant posted its latest earnings report. For the first quarter of fiscal 2024, which ended on Oct. 28, its revenue rose 8% year over year to $14.67 billion and exceeded analysts' estimates by $40 million. Its adjusted earnings grew 29% to $1.11 per share and cleared the consensus forecast by $0.08 per share.
Those headline numbers looked healthy, but a sequential drop in its networking revenue and a reduction in its full-year revenue guidance spooked the bulls. Can Cisco overcome those challenges over the next 12 months?
Image source: Getty Images.
Source Fool.com
Cisco Systems Inc. Aktie
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