Investing.com - Cisco (NASDAQ:CSCO) reported on Wednesday fourth quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Cisco announced earnings per share of $0.83 on revenue of $13.1B. Analysts polled by Investing.com anticipated EPS of $0.8163 on revenue of $12.73B.
Cisco shares are down 26% from the beginning of the year, still down 27.42% from its 52 week high of $64.29 set on December 29, 2021. They are under-performing the Nasdaq which is down 17.3% from the start of the year.
Cisco shares gained 3.26% in after-hours trade following the report.
Cisco follows other major Information Technology sector earnings this month
Cisco's report follows an earnings beat by Apple on July 28, who reported EPS of $1.2 on revenue of $82.96B, compared to forecasts EPS of $1.16 on revenue of $82.79B.
Microsoft had missed expectations on July 26 with fourth quarter EPS of $2.23 on revenue of $51.87B, compared to forecast for EPS of $2.29 on revenue of $52.38B.
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