Cisco slips after in-line earnings SAN FRANCISCO (CBS.MW) -- Shares of Internet equipment maker Cisco Systems fell in the evening trading session Tuesday, after it reported quarterly earnings that were in line with analysts' expectations but a little short of forecasts on sales. he Nasdaq 100 After Hours indicator, which tracks the evening trading of the technology-heavy index's leading shares, fell 1.83 points to 1,525.17.
Cisco (CSCO: news, chart, profile) fell 2 percent to $19.35 after it reported fiscal first-quarter net income of 21 cents per share on revenue of $5.97 billion. Pro forma earnings were 21 cents per share. It was expected to report a profit of 21 cents a share on revenue of $6.02 billion, according to analysts polled by Thomson First Call.
The company will be giving an outlook in a conference call set to start later this afternoon.
Analysts currently expect Cisco to earn 22 cents a share on sales of $6.21 billion in its second fiscal quarter.
The company said in August that it expected revenue in the first quarter of $5.92 billion to $6.04 billion. See full story.
Cisco Systems is one of the most closely watched technology leaders in the world, and its earnings and forecasts for coming quarters often help set the tone across the spectrum of tech companies.
Earlier, the Dow Jones Industrial Average ($INDU: news, chart, profile) fell 4.94 points to close at 10,386.37, while the Nasdaq Composite Index ($COMPQ: news, chart, profile) rose 4.08 points to finish at 2,043.33. See full story. |