Cisco Systems Inc.’s stock rose in the extended session Wednesday after the networking company reported quarterly results that topped Wall Street estimates and a revenue forecast for the end of its fiscal year that exceeded analysts’ consensus amid higher tariffs in the escalating trade war with China.
Robbins said Cisco has been in contact with the Trump administration to make sure it understands the impact of the tariffs, that it has continued to optimize its supply chain, and will make pricing adjustments when needed. Revenue rose to $12.96 billion from $12.46 billion in the year-ago quarter. Product revenue rose to $9.72 billion from $9.3 billion a year ago, and service revenue rose to $3.24 billion from $3.16 billion last year. Analysts had expected revenue of $12.89 billion, while Cisco had forecast revenue of $12.96 billion to $13.21 billion. Wall Street had forecast product revenue of $9.65 billion and service revenue of $3.22 billion.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Cisco earnings, revenue forecast top Wall Street estimatesCisco Systems Inc. reported quarterly results that topped Wall Street estimates Wednesday, while the networking company’s revenue forecast for the end of its... Caramba -- Who's that riding out of town in the picture ? It's the CISCO KID.... JonChevreau Good companies are still making monies, big time.
Source: MarketWatch - 🏆 3. / 97 Read more »
Cisco quarterly earnings beat estimates; shares riseCisco Systems Inc reported quarterly earnings above analysts' estimates on ... ¢¢£
Source: Reuters - 🏆 2. / 97 Read more »
POLITICO Playbook: Wall Street takes stock of the tariffs, and Pompeo trades Moscow for Brussels visitWall Street is having a bit of a freakout over President Donald Trump's trade war. More in Playbook: Lmao, and people thought at one time the DOW would never break 10,000😆 Politically, the White House is now conceding that Trump's tariffs will hurt Americans. With an election around the corner, how much economic pain is the Republican Party willing to take?
Source: politico - 🏆 381. / 59 Read more »
Uber falls more than 7% in disappointing Wall Street debutShares of Uber fell more than 7% on its first day of trading, marking a rocky Wall Street debut for a company that endured plenty of bumps on its long road to going public. New life new opportunities with ComingTraining❤️ 👇👇 ❤️ 👆👆 DearMeTenYearsAgo Three stars. Blame Democrats. Losers think the gig economy should provide health and retirement benefits. Friggin stupid!
Source: CNN - 🏆 4. / 95 Read more »
Trade Talks Take Center Stage As More Volatile Action Expected On Wall StreetThe trade talks are happening right in front of investors’ eyes this week, and that’s one reason for all the volatility. Thin, low-volume trading is possible today as investors await tidings from Washington.
Source: Forbes - 🏆 394. / 53 Read more »
Chevron, the loser in the Anadarko buyout battle, is actually a winner on Wall StreetChevron walks away from its deal to buy Anadarko with a $1 billion breakup fee and its 'hard-won' reputation for capital discipline intact. $OXY Ambitions. They want to be big like Exxon Mobil. 1 day Soon. That women CEO is so big head
Source: CNBC - 🏆 12. / 72 Read more »
Here are the biggest analyst calls of the day: Ralph Lauren, Intel, Hostess Brands & moreHere are the biggest calls on Wall Street on Thursday
Source: CNBC - 🏆 12. / 72 Read more »
China's tit-for-tat could wipe out Wall Street gains for the yearChina is targeting sectors and industries located in Trump-voting states 'in order to impose as much economic damage on the people that support Donald Trump as they can,' said one economist. I guess it's gonna hurt but like TomCottonAR said... Oh wait. Just forget about what he said. He's a Republican with bad decision-making skills. Trump's gonna wipe out the GOP, problem is he might wipe out the whole country. haha, they said 'tit' Trump destroys the economy
Source: NBCNews - 🏆 10. / 86 Read more »
Goldman beats path to new Wall St hunting groundThe firm is courting an investment adviser in what would be its largest deal since the financial crisis. United Capital’s $23 bln in assets are a drop in the bucket for Goldman Sachs, but bring the kind of predictable earnings that boss David Solomon wants. He’s not the only one.
Source: Breakingviews - 🏆 470. / 51 Read more »
Trade-sensitive stocks on ropes as uncertainty weighsA week of worsening fears on Wall Street leading up to Washington's increas...
Source: Reuters - 🏆 2. / 97 Read more »