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Home / Business / The Cisco earnings hit in the fourth quarter, but Investing.com's forecasts are not met

The Cisco earnings hit in the fourth quarter, but Investing.com's forecasts are not met




© Reuters. Cisco earnings and fourth-quarter revenue surpassed

Investing.com – Cisco (NASDAQ) issued a weaker-than-expected forecast on Wednesday, offsetting fourth-quarter results that exceeded analysts' expectations.

Cisco announced this well-known first quarter fiscal gain in the range of $ 0.80 to $ 0.82 per share of revenue of $ 12.68 billion to $ 12.93 billion, which is in line with S & P's expectations Capital IQ of $ 0.83 per share of revenue of $ 1

3.41 billion was equivalent to $ 12.68 to $ 12.93 billion for S & P

The network company generated revenue in the fourth quarter $ 13.43 billion per share. Analysts surveyed by Investing.com forecast earnings per share of $ 0.81 on revenues of $ 13.39 billion. This compares to earnings per share of $ 0.70 on revenues of $ 12.84 billion in the same period last year. The company posted earnings per share of $ 0.78 in the prior quarter, with revenues of $ 12.96 billion.

Prior to winning Cisco in the fourth quarter, analysts highlighted weaker corporate spending on network equipment as a headwind that could affect growth.

] Revenues from the Infrastructure Platforms division, which accounts for the largest share of total revenues, increased 6% to $ 7.88 billion, ahead of the consensus of 7.84 billion analysts surveyed by FactSet. USD.

Distribution of network products for data centers, including switches and routers.

Cisco (NASDAQ) stocks fell 6.24%, according to the report.

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