Investing.com – Cisco (NASDAQ:) delivered weaker-than-expected guidance Wednesday offsetting fourth-quarter that beat analysts’ expectations on both the top and bottom lines.
Cisco said it expected first-quarter earnings in the range of $0.80 to 0.82 a share on revenue of $12.68 to $12.93 billion, short of expectations from Capital IQ of $0.83 a share on revenue of $13.41 billion.
~$12.68-12.93 bln vs
The firm reported earnings per share of $0.83 on revenue of $13.43 billion. Analysts polled by Investing.com anticipated earnings per share of $0.81 on revenue of $13.39 billion. That compared to earnings per share of $0.7 on revenue of $12.84 billion in the same period a year earlier. The company had reported earnings per share of $0.78 on revenue of $12.96 billion in the previous quarter.
Ahead of Cisco’s fourth-quarter earnings, analysts had highlighted weaker enterprise spending on networking equipment as a headwind that could weigh on growth.
But revenues from the infrastructure platforms division, which make up the bulk of total revenue, rose 6% to $7.88 billion, above the $7.84 billion consensus among analyst polled by FactSet.
sales of data center networking products, including switches and routers.
Cisco shares lost 4.21% to trade at $48.48 in after-hours trade following the report.
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