By Connor Hart


Cisco Systems posted lower revenue and profit in its fiscal first quarter, but results beat analyst estimates, boosted by investments to support artificial intelligence. The networking-equipment company said profit fell to $2.71 billion from $3.64 billion a year earlier. Revenue fell 5.6% to $13.84 billion but came in ahead of the $13.78 billion that analysts were looking for. Gains from the company's AI pipeline, which Chief Executive Chuck Robbins said is strong, were offset by losses stemming from the company's restructuring plan. Shares fall 2.5%, to $57.69, in after-hours trading.

Beazer Homes logged revenue growth in its fiscal fourth quarter on higher home orders. The home-construction company said revenue rose to $806.2 million from $645.4 million for the year-ago period, beating the $775.4 million expected by analysts, according to FactSet. Overall, the company ended the quarter with 1,029 homes, up from 1,003 orders a year earlier. Chief Executive Allan Merrill says the company has seen a jump in orders in the current quarter. Shares rise 7.9%, to $34.50, in postmarket trading.

Harrow reported third-quarter results that missed analysts' expectations. The pharmaceutical company posted a loss of $4.2 million, or 12 cents a share, compared with a loss of $4.4 million, or 13 cents a share, for the same period a year earlier. Analysts polled by FactSet expected a per-share loss of five cents. Revenue rose 44% to $49.3 million but missed the $52.8 million that Wall Street projected. Shares tumble 21%, to $41.06, in after-hours trading.


Write to Connor Hart at connor.hart@wsj.com


(END) Dow Jones Newswires

11-13-24 1912ET