Cisco stock falls after hours following earnings
Yahoo Finance's Ines Ferre provides the numbers to know from Cisco's earnings report.
Video Transcript
ADAM SHAPIRO: All right, we've got Cisco earnings out after the bell. Ines Ferre, what are they telling us?
INES FERRE: And Adam, Cisco earnings coming in with that in-line with the top line, coming in at $12.9 billion for revenue. The Street was expecting $12.99 billion. And it's a beat for the bottom line with Cisco's adjusted earnings per share coming in at $0.82. The Street was expecting $0.81.
But the stock is down in after hours. It's down about 6% and maybe because of its revenue forecast for its second quarter, forecasting a rise anywhere between 4.5% to 6.5%. The Street was expecting a rise of 7.38%. Keep in mind, Cisco is now increasingly focusing on software subscription sales. And this is the first report also where Cisco is splitting up its product and service revenue into seven new categories, including hybrid work and internet of the future. Adam, Seana.
