Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Cisco Plunges After it Misses Q3 Revenue Expectations, Cuts Guidance

Stock Markets May 18, 2022 04:08PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. Cisco Earnings Beat, Revenue Misses In Q3

Investing.com -- Cisco (NASDAQ:CSCO) reported on Wednesday third-quarter earnings that beat analysts' forecasts and revenue that fell short of expectations.

Cisco announced earnings per share of $0.87 on revenue of $12.84B. Analysts polled by Investing.com anticipated EPS of $0.8627 on revenue of $13.34B.

Cisco shares lost 14.00% in after-hours trade following the report.  

The tech company's revenue was flat year over year, impacted by Covid-related lockdowns in China and the war in Ukraine, but it said it saw solid demand with product order growth up 8% year over year.

"We continued to see solid demand for our technologies and our business transformation is progressing well," said Chuck Robbins, chair and CEO of Cisco. "While Covid lockdowns in China and the war in Ukraine impacted our revenue in the quarter, the fundamental drivers across our business are strong and we remain confident in the long term."

Cisco's shares were also hit after it lowered full-year estimates. It now expects full-year earnings per share between $3.29 and $3.37, down from the previous $3.41 to $3.46 per share expectation.

Full-year revenue growth was also lowered to between 2% and 3%, from the previous outlook of 5.5% to 6.5%.

Cisco Plunges After it Misses Q3 Revenue Expectations, Cuts Guidance
 

Related Articles

Walgreens Boots Earnings, Revenue Beat in Q3
Walgreens Boots Earnings, Revenue Beat in Q3 By Investing.com - Jun 30, 2022

Investing.com - Walgreens Boots (NASDAQ:WBA) reported on Thursday third quarter earnings that beat analysts' forecasts and revenue that topped expectations. Walgreens Boots...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
William Smith
William Smith May 18, 2022 7:23PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Can you say DEPRESSION? Only took Biden 15 months to destroy America. His weakness prompted Putin to attack Ukraine and Biden's anti business anti oil policies are destroying America at the speed of light.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email