Cisco Shares Drop 6% as 2Q Guidance Misses Wall Street Targets

By Maria Armental

Cisco Systems Inc.'s stock slid 6% to $53.20 in after-hours trading on a weaker-than-expected outlook for the second quarter.

Cisco expects to make 64 cents to 68 cents a share this quarter, or 80 cents to 82 cents a share, with revenue increasing 4.5% to 6.5%. That compares with analysts' projected 70 cents a share in profit, or 82 cents a share as adjusted, with revenue increasing about 7.3% to $12.84 billion, according to FactSet.

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(END) Dow Jones Newswires

11-17-21 1646ET