Is It Too Late to Buy Cisco Systems Stock?
Cisco's (NASDAQ: CSCO) stock dropped 6% during after-hours trading on Nov. 17 after the networking giant posted its first-quarter earnings report.
Its revenue rose 8% year-over-year to $12.9 billion, but missed Wall Street's consensus estimate by $90 million. Its adjusted net income increased 8% to $3.5 billion, or $0.82 per share, beating expectations by two cents.
Cisco expects its revenue to rise 4.5%-6.5% year-over-year in the second quarter, but analysts had expected more than 7% growth. It expects its adjusted earnings to grow 1%-4%, compared to expectations for 4% growth.
Source Fool.com
