Is Cisco Systems Stock a Buy Now?
Cisco Systems' (NASDAQ: CSCO) stock price plunged 13% during after-hours trading on May 18 following its third-quarter earnings release.
The networking device maker's revenue stayed nearly flat year over year at $12.8 billion, which missed analysts' expectations by $500 million. Its adjusted earnings increased 5% to $0.87 per share, which cleared estimates by a penny.
But for the fourth quarter, Cisco expects its revenue to decline 1%-5.5% year over year, and for its adjusted EPS to drop 0%-9.5%. For the full year, it expects its revenue to rise just 2%-3%, compared to its prior outlook of 5.5%-6.5% growth, and for its adjusted EPS to grow just 2.5%-5% -- which was also below its previous guidance for 6.2%-7.8% growth.
Source Fool.com
