Cisco Systems (CSCO) Lower Following Q2 Results and Cautious Guidance
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Shares of tech-giant Cisco Systems (Nasdaq: CSCO) are 7% lower in after-hours action Wednesday after the company reported in-line Q2 results, but provided a cautious Q3 outlook.
Cisco reported Q2 EPS of $0.38, in-line with the analyst estimate of $0.38. Revenues for the quarter were $9.8 billion, versus the consensus of $9.79 billion. Cisco said it sees Q3 sales growth of 10%, which was below Wall Street's expectations of 15% growth. On the earnings call, CEO John Chambers said US and European customer are "cautious."
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