Cisco stock rises as earnings, revenue forecast top Wall Street estimates
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.
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