Cisco (CSCO) reported fiscal first quarter results that topped analyst estimates, but the guidance fell short of expectations. In the first quarter, the tech giant reported adjusted earnings of $1.11 per share versus estimates of $1.03 and revenue of $14.67 billion compared to an expectation of $14.63 billion. However, Cisco’s second quarter and full-year revenue guidance was well below what Wall Street had been expecting. Its revenue outlook for the second quarter is $12.6-$12.8 billion compared to a $14.2 billion estimate. Cisco cut its full-year revenue outlook to $53.8-$55.0 billion versus the previous estimate of $57-$58.2 billion. Yahoo Finance Live breaks down Cisco’s first quarter report.
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Haha
Corporations are scared inflation was high, it’s going down, AI is going to be a core in 2024 u will need connectivity at rates not available now. Who is positioned to support that? My bet is Cisco I’ll take the once in 5 year discount to add. Even if a recession hits companies will look for alternative ways to get ahead, aka AI… period… short term loss for a long term gain is exactly what 25% of my savings needs.