Shares of Cisco Systems, Inc. (NASDAQ:CSCO) are falling very heavily in
extended hours following the company forecasted a lower than projected revenue
for the current quarter. Investors are reacting to the company's weak outlook
as it expects its top line to grow by 3-5%, which are no where comparable to
analysts' estimations of rise of 13%. On the other hand, the company reported
its first quarter results which was almost in line with the analysts'
estimations. CSCO's adjusted income came at 40 cents and revenue grew to
$10.75 billion, compared to analysts' estimates of 40 cents a share on revenue
of $10.75 billion. Shares of Cisco slumped over 13% in After Hours with more
than 34 million shares have traded hands in After Hours. Disclaimer: The
assembled information distributed by epicstockpicks.com is for information
purposes only, and is neither a solicitation to buy nor an offer to sell
securities. Epicstockpicks.com does expect that investors will buy and sell
securities based on information assembled and presented herein.
EpicStockPicks.com will not be responsible in any way for or accept any
liability for any losses arising from an investor's reliance on or use of
information obtained from our website or emails. PLEASE always do your own due
diligence, and consult your financial advisor.
No comments:
Post a Comment